Shah Rukh Khan looks to sell Knight Riders: Report

Kolkata Knight Riders’ string of losing matches in the ongoing Indian Premier League (IPL) has baffled its co-owner Shah Rukh Khan, as the actor has decided to sell his team.

Shah Rukh Khan has initiated talks with various companies to sell the stakes of the team he bought just over a year ago.

According to a report in Business Standard, the Bollywood actor has approached Nokia, Sahara, the Anil Ambani group, and several others to buy stakes of the team.

Sources of KKR’s holding company Red Chillies Entertainment
, said: “Shah Rukh Khan has been trying to sell a stake in KKR for some time now. But since most companies he approached also wanted management control, Khan is now talking to Nokia, Sahara, Anil Ambani and others to sell his entire shareholding.”

Khan’s public relations officer, however, refrained from giving any comment on the latest development of the issue.

Meanwhile, other corporate, to whom Shah Rukh has approached, denied the report. Sahara India’s communications director Abhijit Sarkar said: “We have not been approached by Shah Rukh Khan yet. But if he does, we would be happy to buy the team.”

D Shivakumar of Nokia India said, “Shah Rukh Khan will keep the team.”

A Reliance Communications spokesperson said, “A lot of people negotiate with Anil Ambani. I cannot comment unless there is something concrete on table.”

According to the Red Chillies official, Khan wants to exit, owing to the team’s poor performance — so far the team has won only one rain-curtailed game under the Duckworth Lewis method — and rising costs.

“If the Board for Control of Cricket in India (BCCI) does not increase the number of teams for next year, Khan could get double what he paid,” said the Red Chillies official.