Preity Zinta shocked by BCCI decision
Kings XI Punjab co-owner Preity Zinta was shocked after hearing the BCCI had decided to axe her franchise after the IPL Governing Council’s emergency meeting in Mumbai.
The Bollywood actress spoke of her shock via social network blogging site Twitter but admitted she was still absorbing the news after a dramatic day for the Kings XI.
"Still absorbing the news. After working so hard in the IPL and putting my everything building this team dis is not what I expected! Shocked!," said Zinta.
"I know there is god up there and he is looking out for me," she added.
While Zinta was shocked at the decision Kings XI team management reacted strongly to the BCCI’s decision saying it was unfair to terminate the franchise.
"KXIP strongly believes that this decision is unfair and not in the collaborative spirit which the IPL has operated in," said a team spokesman.
"Kings XI hopes that the BCCI will engage in a productive dialogue to resolve all misunderstandings. KXIP has been a loyal franchise since the inception of the IPL, at a time when there was no guarantee or visibility of the leagues' success," the spokesman added.
After a thorough investigation the BCCI found the Kings XI guilty of violating the franchise agreement on three counts including, vitally; the clear ownership structure of the franchise.
The team was found to have changed owners on two separate occasions despite the franchise agreement not allowing any transfer of ownership during the first three years of the tournament.
According to the show causes issued by the BCCI the Kings XI restructured their ownership structure twice in 2008 which saw ownership of the franchise transferred to Dabur Investment Corporation Limited and Windy Investments Limited.
Two months later in June the share holdings of Dabur and Windy dropped to 23%, with Preity Zinta, Ness Wadia, Karan Paul, Colway Investments Limited and Root Invest Private Limited taking control of the other 77% of the Kings XI.