IPL-Kings IX Punjab Proposal of Sellout is Rejected by BCCI
The BCCI (Board of Control for Cricket in India) has rejected the proposal that IPL team KINGS IX PUNJAB will sell it 93% equity. This is because of the investigation going onto the IPL’s chairman Lalit Modi. Before selling the Players or the shares, team must take permission from the BCCI. The owner of the team must have to pay a fee to BCCI for the transfer of the players.
Wadia who retain 93% ownership and with this Preity Zinta who retain 7 % ownership approaches BCCI with the proposal for selling the equities. The chairman Mr. Lalit Modi has been suspended on April. Lalit Modi replied that the relation with the owners of the team is open and a BCCI member knows it. However the proposal is kept in cold coverage.
And here is the rest of it
