Shah Rukh Khan is now the undisputed ruler of the Kolkata Knight Riders (KKR). The Bollywood superstar is set to buy 35 percent of the Knight Riders franchise from the Mehta Group. For the past few days, there had been speculation that Joy Mehta wanted to sell his stake in KKR, raising the possibility of a new owner joining the franchise before the season. Putting an end to all such rumours, Shah Rukh Khan has decided to purchase the additional shares himself.
Once the transaction is completed, 90 percent of KKR’s ownership will be under SRK. At present, KKR is jointly owned by Shah Rukh Khan’s Red Chillies Entertainment and Juhi Chawla Joy Mehta’s Mehta Group. Red Chillies currently holds 55 percent, while the Mehta Group owns 45 percent. It is learnt that the Mehta Group wants to sell a major portion of its stake as KKR’s market value has grown significantly compared to when the franchise was first acquired.
Instead of a third party, Shah Rukh Khan himself is buying 35 percent of the Mehta Group’s shares, taking his total holding to 90 percent, valued at around ₹4,000 crore. The Mehta Group is not exiting completely, as Juhi Chawla will retain 10 percent. However, this makes SRK the clear majority owner of KKR.
KKR is one of the most successful teams in the IPL, having won the title three times and reached the final four times. The association of Shah Rukh Khan with Kolkata gives the franchise a unique brand value. The Knight Riders group also owns franchises in three other countries and runs a cricket academy with a capacity of 10,000 spectators. From now on, this empire will be ruled solely by the Badshah.
