Shah Rukh Khan's association with the Kolkata Knight Riders has become one of the most successful partnerships in the history of the Indian Premier League. However, according to IPL founder Lalit Modi, the Bollywood superstar was initially reluctant to buy a franchise and even worried about the financial commitment involved.
Speaking to Humans of Bombay, Modi recalled the events that led to Shah Rukh becoming a team owner when the IPL was being conceptualised. According to Modi, the idea of bringing Bollywood celebrities into the league came from his belief that cricket alone would not be enough to attract a wider television audience.
"I took Shah Rukh to a game in Rajasthan when I was BCCI vice-president. It was the first international match ever played in Jaipur. This was before the IPL; I think about a year earlier. I saw the crowds go absolutely hysterical when he arrived. He became the highlight of the match," Modi said.
The former IPL chairman explained that the experience convinced him that combining cricket and Bollywood could create a powerful entertainment product. "In India, two things sell, cricket and Bollywood. I had already brought in the money associated with the cricketing world and advertisers for BCCI. The rest of television advertising was going into the saas-bahu world and programming centred around Bollywood," he said.
Modi added that securing the prime-time television slot was crucial to the league's success. "To make the IPL successful, I needed that 8 pm time slot. I was going head-to-head with some of the biggest television shows in the country. Cricket had never really been a night-time product. I was taking a huge risk by creating a prime-time night event," he said.
As part of that strategy, Modi approached Shah Rukh Khan about buying a team. However, the actor was not immediately convinced. "Who better than Shah Rukh Khan to own a team? The funny thing was that Shah Rukh didn't like cricket and didn't really understand cricket. He is a football fan. When I told him I wanted him to buy a team, he was apprehensive. He said, 'I don't understand cricket.' I told him to leave that to me and that I would ensure the right team and system were put in place," Modi revealed.
The actor's next concern was financial. Modi recalled Shah Rukh asking how much ownership would cost. "He asked me, 'If I happen to win a team, how much is it going to cost?' I told him the down payment would be Rs 20 crore. He replied, 'But that's a big part of my savings account.'" To ease those concerns, Modi explored a sponsorship arrangement with mobile phone giant Nokia. "There was a company called Nokia that made handsets. They were desperate to have Shah Rukh as their brand ambassador. I asked if Shah Rukh were to win a team, would they sponsor the front of the jersey? They said yes."
According to Modi, the arrangement worked perfectly for both sides. "It was a win-win for Nokia if Shah Rukh owned a team. It was a win-win for Shah Rukh if Nokia became the front-shirt sponsor. He basically bought it for free," he claimed.
Modi further revealed that the deal came together within hours. "Shah Rukh put in the money and Nokia backed it up. At 12 o'clock, Shah Rukh wrote a cheque. By the evening, Nokia wrote another cheque to sponsor the KKR consortium."
Since then, Kolkata Knight Riders, co-owned by Shah Rukh Khan, Juhi Chawla and Jay Mehta, has grown into one of the IPL's most successful and valuable franchises. The team has won multiple titles and enjoys one of the largest fan bases in world cricket.
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