Kings XI Punjab is set to acquire the St Lucia franchise of the Caribbean Premier League, becoming the second IPL team to own a CPL outfit after Kolkata Knight Riders.
"We are about to sign an agreement to be part of CPL. We are getting the St Lucia franchise. The structure and name of the company will only be communicated after we get the BCCI's approval," KXIP co-owner Ness Wadia told PTI on Monday.
"Mohit Burman (co-owner) is in the Caribbean at the moment to sign the agreement. We want to especially thank the Prime Minister of St Lucia Allan Chastanet for making this possible. We have been pursuing this for almost nine months," added Wadia.
St Lucia Zouks is one of the six teams competing in the CPL. The team is led by former West Indies captain Darren Sammy.
Another Indian Premier League franchise Kolkata Knight Riders had acquired Trinbago Knight Riders in 2015. It is the most successful CPL franchise till date, having won three titles.
St Lucia's best performance till date came in 2016 when it finished fourth.
The Caribbean Premier League, which began in 2013, is among the established T20 leagues in the world.