Disappointed Shahrukh Decides To Sell Stake In KKR

Disappointed Shahrukh Decides To Sell Stake In KKRThere are speculations all around that Bollywood Badshah Shahrukh Khan is making attempts to sell his Knight Riders franchise.

According to reports, SRK is making discussions with companies including Nokia, Subroto Roy’s Sahara Group and the Anil Ambani Group to sell around 20% stake in the team he purchased in 2008 for Rs 300 crore.

The industry sources said that the major hurdle to any deal could be the high valuation of the team.

SRK has big expectations from the team as he wanted the brand to be valued at least around Rs 500 crore.

Unluckily, that hope seems too high in the present economic scenario.

In technical terms, King Khan can sell equity up to 49% but he can’t sell ownership of the IPL franchise ownership to any other party for the first three years.

But, due to bad performance record during this season, SRK will not get a good price at the moment, a source said.

When contacted, team functionaries categorically refused SRK was trying to sell stake in Kolkata Knight Riders (KKR).

A Kight Riders representative stated, “There is no question of selling the franchise and Shah Rukh is not even thinking about it. He may not be South Africa, but he is still very passionate about his team and he doesnt need money by selling the team.”

Showing his anger, SRK returned to India from South Africa, and sent a strong message to KKR that he would not return unless the players performed better in the upcoming matches and learnt from its inaccuracies.

"If my team continues to lose like this, I am not going back to South Africa. I will go only when they play well and win," SRK said.

Sahara and Reliance Communications spokespersons said they would be interested in purchasing a stake in KKR if the Indian cricket board doesn’t enhance the number of IPL teams from 8 to 10.

Sources said that IPL may have two more teams from the fourth season onwards from cities like Ahmedabad, Lucknow and Nagpur.

Previously, Khan had approached some of these sponsors after HDIL dropped out of sponsoring the team’s jersey.