Shah Rukh Khan bids for 5 IPL teams

Buoyed by Indian cricket team’s success at T20 World Cup, BCCI’s pathbreaking Indian Premier League (IPL) has received an overwhelming response from India Inc.

The list not only includes business houses such as RIL, ADAG, GMR, DLF, Nirulas, Deccan Chronicle, India Cements, Videocon, UB Group, Deutsche Bank but also bollywood star Shah Rukh Khan, who has placed bid through his company, Red Chillies in a consortium with none other than IPL chairman Lalit Modi.

ET has a list of all the companies and consortia which have placed bids on their preferred teams. According to sources, the total bids will amount to over a billion dollar for all the teams, with the Mumbai team being the most sought after. Leading from the front are the Ambani brothers.

However, the most surprising name on the list is Red Chillies Entertainment, the company owned by Shah Rukh Khan, who has applied in consortium with IPL Chairman Lalit Modi and placed bids for five teams, Kolkata, Delhi, Mumbai, Chandigarh and Jaipur.

Others in the fray are Deutsche Bank and ICICI’s Private Equity firm ICICI Venture. According to IMG India, which has devised the league for BCCI, the real revenues for the team owners will come from the corporate business tickets, which will form almost 50% of the revenues generated from ticket sale.

Economic Times