Have not bought any stake in Kings XI Punjab: Hero Honda

Two-wheeler giants and IPL associate sponsors Hero Honda rubbished media reports, which claimed that they have bought stake in IPL franchise Kings XI Punjab.

New Delhi: Two-wheeler giants and IPL associate sponsors Hero Honda rubbished media reports, which claimed that they have bought stake in Indian Premier League franchise Kings XI Punjab.

The company said categorically that such a move was never discussed at any level. "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. Media reports this morning claimed that Hero Honda have bought stake in Bollywood star Preity Zinta co-owned Kings XI Punjab.The Hero Honda also asserted that their association with the BCCI floated IPL and Delhi Daredevils, one of the eight franchises in the Twenty20 competition, continue to be the same. "Hero Honda`s association with IPL as an associate sponsor and the main team sponsor of Delhi Daredevils team remain unchanged," they said in statement. The third edition of the IPL will begin on March 12 with opening match between reigning champions Deccan Chargers and Kolkata Knight Riders in Hyderabad. PTI