MUMBAI: The winners of the fifth season of the Indian Premier League (IPL) Kolkata Knight Riders’ might put their stakes up for grabs. Reports suggest that Bollywood star Shah Rukh Khan, who co-owns the team might part with 20 per cent stakes of his team, if he is offered the right price.
Bollywood actress Juhi Chawla and her husband Jay Mehta purchased the the Kolkata based IPL franchise Kolkata Knight Riders (KKR) for over $75 million in 2008 along with Shah Rukh Khan.
KKR, in its first four seasons failed to live up to the expectations its fans had for it, and never reached the semifinals of the Twenty20 event, which lead to a drop in the franchise’s value.
In 2011, the KKR team was valued at a low of $57.5 million. And after shocking many by winning the IPL cup last year, the KKR management is looking for at least $40 million for the 20% stake.
Earlier, Shah Rukh has been denying all the reports of him selling his share of the team. According to IPL rules, teams can sell stakes only with the approval of the BCCI (Board of Control for Cricket in India).
However, Shah Rukh Khan and his partners apparently maintain that even if the sale happens, they would retain control of the team.