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[Blwe_torch]

King's XI Punjab..........owned by Preity Zinta, Ness Wadia, et al ... sold to Hero Honda for $ 260 million.
Details to follow.

[LosingNow]

WOW!! Looks like a good return on their investments

http://en.wikipedia.org/wiki/Kings_XI_Punjab
The owners of the franchise include Preity Zinta, Ness Wadia (Bombay Dyeing), Karan Paul (Apeejay Surendera Group) and Mohit Burman (Dabur). The group paid a total of $76 million to acquire the franchise.

[teamindia]

Received a tweet..
 
Hero Honda buys Kings XI Punjab. Yuvraj shuddering at the prospect of being hugged by Pawan Munjal.

LOL

[broadbat]

Sanga should get all the hugging now so I guess it is ok.

[justforkix]

So, now Delhi Daredevils Veeru will advertise for Kings XI Punjab 

[teamindia]

Hero Honda denies buying King's XI Punjab

http://cricket.ndtv.com/storypage/ndtv/id/spoen20100130108/story10022010_105800.html

Hero Honda, an associate sponsor of the IPL, on Wednesday denied the reports of buying out IPL team Kings XI Punjab.

Earlier, there were reports the IPL's Punjab outfit, owned by actor Preity Zinta, Bombay Dyeing's Ness Wadia, Dabur's Mohit Burman and Karan Paul of the Apeejay Surendera Group, had been bought by Heron Honda for $260 million.

Rebuffing such reports, it said in an official statement, "The current media reports about Hero Honda buying stake in Kings XI Punjab are completely baseless and untrue. We have not had any discussion in this regard either".

It also said that their association with IPL as an associate sponsor of IPL and the main team sponsor of Delhi Daredevils team remains unchanged.

[WicketView]

Here is the Times of India page!