UPDATE: My Name is Khan for Rs 100 crore

There's a reason why they call him King Khan even today and when he teams up with longtime friend and Bollywood's hottest producer-director Karan Johar it's a formula for blockbusters.

And that's reason enough for Fox Studio to put its money in what could arguably be the biggest Bollywood deal ever.

Fox is all set to acquire the worldwide rights of Karan Johar's Shah Rukh Khan-Kajol starrer My Name is Khan for a record Rs 100 crore. That's more than double the budget of the film.

"It will be a very big deal for Fox. It catapults them to the big league. It can't get bigger than KJo, SRK in Bollywood," said Komal Nahata, Film Trade Analyst.

Such a big buyout especially when many producers have failed to seal deals will certainly raise eyebrows and reiterate King Khan's saleability factor in the box office.

Till date Aamir Khan's Ghajini (Rs 90 crore0 has topped the buyout list, Om Shanti Om (Rs75 crore) stood second highest followed by Akshay Kumar's Singh is Kinng (Rs 60 crore) and Welcome (Rs 40 crore).

But for Fox Star Studio that's Fox's Joint Venture with STAR is a high stakes game. After the runaway success of Slumdog Millionaire, Fox clearly leads the pack compared to its global rivals Warner Bros and Sony whose Hindi productions Sawariya and Chandni Chowk To China have all bombed at the box office.

But experts say with SRK's global popularity, My Name is Khan will be one of the highest grossers for the overseas Box Office. No wonder Fox is betting on a 2010 project of SRK despite the rather lukewarm response of his Billu and Rab Ne Bana De Jodi.