Forty-two years old Moody has coached Sri Lankans for two years before leaving in May to take up the reigns of Western Australia.
The Australian is regarded as one of the world's best and shrewd coaches.
Accompanied by Joint Managing Director of Bombay Dying Ness Wadia, Chairman of Dabur Pharma Mohit Burman, Apeejay Surrendra Group chairman Karan Paul, Punjab Cricket Association president Inderjit Singh Bindra and secretary MP Pandove, Preity Zinta said ''it is an exciting moment for me.
The venture will provide an opportunity to the players at the grassroot level.'' Seeking support in her endeavour, the Bollywood star, who hails from Shimla said, ''there is a saying that every day is not a Sunday.
However, everyday will be a Sunday in IPL. It is fantastic.'' ''Our aim will be to win the inaugural league and we will win it,'' she said.
Replying to a question, Preity said ''it is very difficult for a mother to say who is her best child. Film is my first child and cricket second. However, when I will be watchiing cricket match, it will be my first choice.
When shooting, the film will be my priority.''
Admitting that earlier, she had no interest in cricket, Preity Zinta said ''I have started taking interest in the game. I have started reading last four pages (sports) of newspapers.''
Backing Yuvraj Singh, whose big cutouts were placed at the backdrop of the stage from where she and other addressed the newspersons, Preity said '' Yuvraj is an icon.
It is the same Yuvraj who had slammed six sixes in one over.'' Yuvraj will captain the Team.
She urged to create the spirit of Team Mohali and invited suggestion on SMS till February 24 for an appropriate name of the team.
Regarding the successful bid for Team Mohali at 76 milliion dollar, Preity said, Mohali was our first choice. I am thrilled to have won the bid and its feel like coming home.''
Asked whether the money put into bidding would be recovered, Bombay Dying JMD Ness Walia said Rs 310 crore bidding amount was not for business. It has nothing to do with business.
We are associating with the best-managed cricket association of the country-- Punjab Cricket Association which provides the best infrastructure and training to the cricketers. Our aim is to promote the game at the grassroot level.''
''I play golf with Jeev Milkha Singh and tennis. I have love for all games,'' said young Ness.
Dabur Pharma chairman and member of Dabur Group of Companies Mohit Burman said on bidding amount, ''It is to create better franchise.'' Neither Priety Zinta, nor Ness or Mohit disclosed the amount to be paid to Tom Moody or any player.