Hero Honda buys Kings XI Punjab IPL team

New Delhi, Feb 10 (ANI): Hero Honda Motors Limited, the World's single largest two-wheeler motorcycle company has reportedly bought Indian Premier League (IPL) team King's Kings XI Punjab for a staggering sum of 260 million dollars.

This is for the first time that an IPL team has been sold out. Earlier, Bollywood actress Shilpa Shetty had bought a 12 percent stake in the IPL team Rajasthan Royals.

Hero Honda has purchased the team from Kings XI Punjab owners- Ness Wadia, Mohit Burman, Karan Paul and Bollywood actress Preity Zinta.

The third edition of IPL begins from March. The Kings XI Punjab will be led by Sri Lankan captain Kumar Sangakkara. (ANI)