The Punjab Kings is a franchise cricket team which features in the Indian Premier League representing the city of Mohali, Punjab. The franchise which was established in 2008 plays its home matches in the PCA Stadium in Mohali. However, the team has played its home games in Dharamsala or Indore since 2010. The team’s name was changed to ‘Punjab Kings’ from ‘Kings XI Punjab’ in February 2021. In 14 editions of the tournament, the team has qualified for the playoffs on two occasions. In the 2014 season, Punjab Kings finished at the top of the table and reached the finals but lost to Kolkata Knight Riders.
In 2007 when the BCCI announced the establishment of the IPL, Punjab Kings was bought for $76 million. Mohit Burman’s Dabur group had 46% stake, Wadia group’s Ness Wadia had 23% stake, Bollywood actress Preity Zinta had 23% stake while Saptarshi Dey of the Dey & Dey Group had a minor stake in the franchise.
In 2010 after the controversy with BCCI and Lalit Modi took place, the IPL decided to terminate the contracts for KXIP and RR. At first, the franchise tried to negotiate with the league but later when a solution could not be met amongst the two parties, the Punjab based franchise filed a case in the Mumbai High Court accusing that the league is trying to get rid of the franchise so that they can start the bidding process ahead of the 2012 season of IPL. Eventually the Mumbai High Court lifted the ban on KXIP.
In 2021, the franchise changed its name to ‘Punjab Kings’ as they wished to start afresh after the first 13 seasons in which they failed to win a title.
Performance in IPL
- Most Runs – KL Rahul (2548 Runs in 55 innings)
- Most Wickets – Piyush Chawla (84 Wickets in 87 innings)
The Punjab based franchise is jointly owned by Mohit Burman, Preity Zinta, Ness Wadia and Karan Paul. In 2008 all the four billionaires decided to come together and acquired the rights of the franchise for $76 million. As of 2021, Satish Menon is the CEO of Punjab Kings.
The brand value of the Punjab based franchise has seen various ups and downs. Due to the Covid-19 pandemic in 2020 the annual turnover and the brand value saw a massive dip. According to a report by Duff and Phelps, the brand value of the franchise stands at INR 318 crores as of 2020. The brand value saw a massive dip of about 11.3% from 2019. In 2019, KXIP was valued at INR 358 crores.