Kings XI Punjab reports loss of Rs 25 crore in 2008-09

Kings XI Punjab reports loss of Rs 25 crore in 2008-09The owners of Kings XI Punjab have informed that the team has suffered a loss of Rs 25 crore in the year 2008-09. During this year, the Indian Premier League had its opening season. Kings XI Punjab is owned by KPH Dreams Cricket private limited, which is co-owned by Bollywood actress Preity Zinta and industrialist Ness Wadia.

The team has managed to reach the semifinal berth in the opening edition of IPL but after that in the next to years its performance was disappointing. In the second edition of IPL that held at South Africa, Punjab team could not reach to the list of best four. But it had even worse season this year.

They were at the bottom of the IPL-III tally. After that they have to face the IT raid and other investigations. So the miseries of Kings XI Punjab and Preity and Ness seem to be unending. As per the financial statements submitted to the Registrar of Companies (ROC) at Chandigarh, the KPH Dreams Cricket private limited has managed to earn a total income of Rs 55 crore. But the total expenditure has touched Rs
80 crore in 2008-09.