Profitable KKR looking for strategic investor: SRK | india | Hindustan Times
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Profitable KKR looking for strategic investor: SRK

india Updated: Apr 05, 2012 09:03 IST
Rachit Vats
Rachit Vats
Hindustan Times
Highlight Story

Never mind the fact that they have not emerged winners in the four seasons gone by of the Indian Premier League (IPL). But Kolkata Knight Riders (KKR), co-owned by Bollywood star Shahrukh Khan, as a profitable business is looking to bring in a strategic partner to expand KKR’s franchise.

“We are open to rope in an additional partner from a strategic point of view rather than the business point of view,” said Shahrukh Khan. “The partner will help expand the KKR franchisee. This may involve establishing cricket academies in smaller towns, hunt new talent, and more.”

Khan co-owns Red Chillies Entertainment in partnership with actress Juhi Chawla and her husband Jay Mehta. Red Chillies bought KKR for around Rs 357 crore in 2008.

Despite its dismal records KKR has managed to remain profitable. According to market estimates KKR’s brand valuation tops the charts and is estimated at Rs 300 crore.

“A number of factors have helped us keep good health and perform better than the rest right from the beginning of the IPL. Starting this season the earnings are going to increase as there are more matched being played,” Khan said.

KKR achieved a profit of Rs 13 crore in the IPL debut season itself. “At the beginning of the league each team had made an estimate on profitability. Most teams, including ours, will break even starting this season,” said Khan. Delhi DareDevils are the next most financially successful team in the league. Nokia has been KKR’s long-standing sponsor.