Mumbai, Aug. 26 Salman Khan is reportedly in talks to a stake in the Indian Premier League.

The actor on Wednesday met IPL chairman Lalit Modi here to understand the bidding process.

"Yes, Salman came to see me with the possibility of buying an IPL team. We were just exploring the possibility of what the process would be. And he has been interested for quite a while. He is interested in a new team. He talked to me in the past. I think he is a serious buyer," Modi said.

Two new IPL teams are to be introduced in 2011. Early reports say Khan is interested in bidding for the Nagpur or Kochi team.

Last year, the average bid was 150 million dollars per team, so Salman will need a serious amount of cash.

Bidding for the new teams will take place in January. The big IPL players will also be back on the market next year.

Shah Rukh Khan, Juhi Chawla, Shilpa Shetty and Preity Zinta are the other star owners of IPL teams.

Shah Rukh Khan owns Kolkata Knight Riders, a team that has been at the bottom of the table in both the IPL seasons. The team is co-owned by Juhi Chawla.

Shilpa Shetty took over as co-owner of the Rajasthan Royals in the second season. Preity Zinta was seen cheering her team Kings XI Punjab through both the seasons. (ANI)