New Delhi, April 30: The string of losses and the seemingly internal feud in the team seems to have taken its toll on the high-profile owner of Kolkata Knight Riders (KKR), Shah Rukh Khan. It has been learnt that the ‘Bollywood Baadshah’ has started discussions with other business companies to sell the team which he bought for a whopping price of Rs 300 crore last year.
The business companies with which Red Chillies Entertainment (RCE), KKR’s holding company, discussed in this regard so far were Nokia, Sahara, Anil Ambani Group and some other business houses.
First, SRK was interested to sell a stake of his team, but since most of the companies approached wanted management control, SRK had no option but to decide selling of the entire shareholding, according to a business newspaper.
SRK’s public relations officer, however, refused to say anything regarding this.
Though none of those who have reportedly been approached confirmed the development, but it has been learnt that SRK has made up his mind to sell KRR that has able to win only one rain-curtailed game under the Duckworth Lewis method and he want to exit from the things owing moral responsibility of the poor show.
The rising cost of the team is believed to have been another e reason for SRK’s recent decision. Khan is supposed to pay Rs 30 crore per year for the next 10 years. The total annual cost for the team is about Rs 75 crore.
Khan had earlier said that KKR was easily the most successful IPL franchise, making a Rs 13 crore profit last year. However, his costs trebled last year owing to interventions from the Kolkata Municipal Corporation (KMC) and Cricket Association of Bengal.