According to a report in a national daily, Bollywood superstar Shah Rukh Khan is looking for buyers for a 20% stake in IPL champions Kolkata Knight Riders.
Defending Indian Premier League champions Kolkata Knight Riders' stakes may be up for grabs. According to a report in a national daily, the Shah Rukh Khan-owned team is looking to offload 20 per cent stakes. But only if it gets the right price!
Story first published on: Tuesday, 19 March 2013 08:55
Shah Rukh, along with Bollywood actress Juhi Chawla and her husband Jay Mehta bought the Kolkata-based IPL franchise for over $75 million in 2008. The team however failed to reach the semifinals of the Twenty20 event in the first four years, leading to a drop in the franchise's valuation.
The team was valued at $57.5 million in 2011. However, with the IPL triumph last year, the KKR management is looking for at least $40 million for the 20% stake.
In the past, Shah Rukh has denied reports of selling his share in the side. According to IPL rules, teams can sell stakes only with the approval of the BCCI.
The report however states that even if the sale happens, Shah Rukh and his partners would retain control of the team.