Preity Zinta Files Court Appeal Against Punjab Kings Co-Owner

Preity Zinta, co-owner of the IPL franchise Punjab Kings, has filed a legal appeal in the Chandigarh High Court to prevent fellow owner Mohit Burman from selling 11.5% of his shares to a third party, claiming a breach of her pre-emption rights under their internal agreement. Zinta, who holds 23% of the franchise, asserts that Burman's actions violate the requirement to first offer any stakes to existing owners. Burman, the largest shareholder with 48%, has denied any intention to sell his shares, but Zinta's legal move indicates a significant breakdown in trust within the ownership group. The court has scheduled a hearing for August 20, 2024, amidst rising valuations of IPL franchises, which could see the potential sale valued at Rs 540-600 crore. This internal conflict comes at a crucial time for the franchise, which has struggled to secure an IPL title since its inception. Attempts to reach other co-owners for comments have been unsuccessful, leaving the situation shrouded in uncertainty.