Exclusive Report: Shah Rukh Khan To Sell Knight Riders

After dropping “Kolkata” from Indian Premier League team (IPL) Kolkata Knight Riders (KKR), actor Shah Rukh Khan has started discussions with Nokia, Sahara, the Anil Ambani group, and several other companies to sell the team he bought just over a year ago for Rs 300 crore, and exit the business.

According to sources in Red Chillies Entertainment, KKR’s holding company, “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, said she would not be able to confirm the development because she had not met the actor.

None of those who have reportedly been approached confirmed the development. 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, vice-president and managing director (markets), Nokia India, sent a text message saying: “Shah Rukh Khan will keep the team.”

A Reliance Communications spokesperson declined to comment. “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.

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.

According to initial calculations, Red Chillies had to pay Rs 90 lakh per match and was supposed to earn Rs 3 crore if all stadium tickets were sold at Eden Gardens. Red Chillies had to pay Rs 20 lakh to the police and municipal tax of Rs 5 lakh. So its expenses per match would have been over Rs 1 crore. But this figure had trebled.

Last year, however, Kolkata Police demanded Rs 2 crore as security fees, against Rs 50 lakh that the organisers of the IPL offered. Then, the Kolkata Municipal Corporation (KMC) demanded Rs 25 lakh from Red Chillies as amusement tax for holding IPL matches at Eden Gardens.

To settle the dispute between Kolkata Police and the IPL organisers over the cost of security arrangements at Eden Gardens, Red Chillies Entertainment had to agree to pay Rs 75 lakh as security fees.

About 5,500 uniformed personnel and about 1,500 sleuths were deployed to secure the stadium and its surrounding areas, since many celebrities were expected to watch the IPL matches at Eden Gardens.

We need to change ourselves first: Shah Rukh Khan

Shah Rukh Khan, who flew back from South Africa to Mumbai to cast his vote today, shares his personal vision for India.

Need for direction
"We need to channelize the youth energy in the right way. We also need to be secure with our language and religion. If my religion is good, that doesn't mean I will make fun of a different religion."

Be the best to deserve the best
To change things around us, we need to change ourselves first. We have to see if we can be the best law abiding citizens of the country. And also take action and exercise your choice. Only then we can have the right to criticize or support someone who is aiming to lead the country.

One at a time please
We have to support the voting system, and give one best party a chance. Let it rule for five years and be accountable to us. Coalitions and alliances don't work. If they are insecure, it doesn't work.

A young India
I believe in the youth. I am a very positive thinker and I believe in the power and sensitivity of young people. I think the youth is going to be very sensitive to the changing scenario around the globe and will put their best foot forward in making the whole planet a better place.

Heart and soul
I am glad that our country is not yet mechanized and plastic like a lot of other countries around the world. We need to be proud of our country, in spite of the bad roads, potholes etc. Lets be proud of what we have, as there is a lot to be proud of.

Get the ideology right
The whole ideology of governance should be economic development and achievement of security and education. There is no other ideology or agenda - there's no relevance of Islam, Hinduism or Christianity here.

I will go to SA only if KKR wins: Shahrukh Khan

After a string of defeats suffered by Kolkata Knight Riders, team owner and Bollywood superstar Shahrukh Khan has decided not to go back to South Africa unless KKR starts winning.

The actor, who flew down to the city to cast his vote in the general elections, said that he will stay in Mumbai as he doesn't want to be a part of the "sadness" which follows every defeat.

"If they are doing well, I will go back otherwise, I don't like going back and feeling sad for the boys because there is a lot of talent in the team and a lot of hardwork," said Shahrukh.

The Kolkata Knight Riders have played fives matches out of which they managed to win only one match in the second season of Indian Premiere League.

"I feel very bad when we are not winning. I don't want to participate in that sadness with them," Shahrukh said.

His team has been dogged by controversies since the very beginning, be it the multiple-captaincy issue, or a clash with cricket legend Sunil Gavaskar, or the tell-all blog written by an alleged team insider.

Shahrukh's latest comments are quite contrary to the sentiments expressed by him in his official blog, titled 'Keep the Faith' a few days ago.

"I don't know if the path we have chosen is correct or not...It's just a path we the Knight Riders have chosen to walk on and will stick to it, till the very end," Shahrukh had said in his blog.