SME Times - Videocon in Talks For Buying IPL Franchisee, Videocon Group Wants To Buy IPL Franchisee, Videocon in Talks For Buying Indian Premier League Franchisee

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SME Times News Bureau | 15 Apr, 2010
Consumer products giant Videocon group is still in talks to own one of the Indian Premier League (IPL) franchisees, group chairman Venugopal Dhoot said in Chandigarh on Thursday.

Amidst reports in sections of the media that Videocon was in talks to buy the Kings XI Punjab (KXIP) IPL franchise, Dhoot avoided naming any franchise but said that talks were on.

"Talks are on for various IPL franchisees. I cannot disclose any name now. Negotiations are on. Whatever is the best profitable option, I will go for it," Dhoot said after launching Videocon's maiden entry into mobile services in Punjab.

"The IPL is close to my heart as I have been playing cricket earlier. It is a famous event among consumers and we want to be associated with such a thing. It is a sport and I am a businessman. Let's see what outcome comes out of the talks," Dhoot added.

Videocon had unsuccessfully bid for the two new franchisees, Pune and Kochi, offered by the IPL management. However, its bid fell short of other contenders.

But Dhoot did indicate that KXIP could be one of the franchisees that the Videocon group could consider.

Asked if he was concerned about the poor performance of the KXIP team in the IPL-3 season, Dhoot said: "Cricket is a game of chance. Winning and losing are part of it."