Two-wheeler maker Hero Honda has denied reports that it was buying the IPL team Kings XI Punjab.
In a statement it said, "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's association with IPL as an associate sponsor of IPL and the main team sponsor of Delhi Daredevils team remains unchanged."
Earlier reports said Hero Honda has bought King's XI Punjab for $ 260 million.
King's XI Punjab is owned by actor Preity Zinta, Bombay Dyeing's Ness Wadia, Dabur's Mohit Burman and Karan Paul of the Apeejay Surendera Group.