Videocon Group chairman Venugopal Dhoot today ruled out the possibility of buying a stake in Kings XI Punjab (KXIP).
“I am a businessman and it does not make sense for me to buy a stake in that team and as of today, I am not buying it,” Dhoot told Business Standard.
Dhoot, however, did not comment on the valuation that the owners of KXIP were asking for. “I would not like to comment on the valuation, but it does not make business sense.” He said he was not concerned about the team’s poor performance this season, as that did not affect the valuation of the team.
According to media reports, the owners of KXIP are expected to exit together by selling their entire stake in the franchisee.