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Hero Honda deny buying Kings XI Punjab

Indian motor bike manufacturer Hero Honda have denied media reports which claim they have brought the Kings XI Punjab replacing Ness Wadia and Preity Zinta as owners.

The company issued a statement categorically denying any such move had taken place.

"The current media reports about Hero Honda buying stake in Kings XI Punjab is completely baseless and untrue. We have not had any discussion in this regard either," Hero Honda, world's largest two manufacturers, said in a statement.

Some media outlets in India this morning had been reporting the deal had been done with a price tag of $260 million having been agreed.

Ness Wadia and Preity Zinta were both unavailable for comment.

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