Indian Premier League (IPL) 2020 has just started and news is making rounds that Shahrukh Khan, the owner of Kolkata Knight Riders (KKR) is turning his sports brand into a global franchise. Shahrukh Khan stepped in IPL by purchasing the IPL team Kolkata Knight Riders for $75.09 million in partnership with actress Juhi Chawla and her husband, Jay Mehta.
According to the reports released by Brand Finance, a brand valuation company – KKR is worth $ 66.5 million and holds second position among the eight teams after Chennai Super Kings ($ 75 million).
Apart from buying Kolkata Knight Riders in the Indian Premier League, the actor has also purchased overseas teams in the cricket league of West Indies called Trinbago Knight Riders and in South Africa called Cape Town Knight Riders. KKR have won the Indian Premier League twice while TKR have done even better by winning four times out of six seasons of the Caribbean Premier League. As of now, KR is the only global brand in T-20 franchise cricket.
We have pursued a conscious strategy of making The Knight Riders brand a global one. With our presence through KKR in IPL, through TKR in CPL and even when we established Cape Town Knight Riders in the SA League, the endeavor has been to globalize the Knight Rider brand, build a global fan base and partner with global brands. – said Venky Mysore, CEO of KR
It was first reported in 2019 that KKR has been profitable and acquisition of TKR and potentially CTKR will materialize. There was also discussion for having a new team in the proposed T-20 league of Emirates. This way, KKR could end up with four-five franchises with the mother brand which is all coming to reality now. The rebranding of team names on the mother brand would help to keep a single identity and common marketing campaigns for better engagement with fans.
Venky Mysore also added that the company keeps getting offers for taking up the team in upcoming leagues across sports such as wrestling, badminton, and others. However, the brand is interested in proposals that are fit strategically and financially.
The globalization of the sports brand will not only increase its popularity but will also help in revenue generation through sponsorship and merchandise.
Shahrukh Khan is a famous bollywood actor and has a huge fan base not only in India but around the globe. With his investments in the KKR franchise, it would not be wrong to say that the actor is not a Bollywood star but is also an excellent businessman who knows how to invest money wisely. With the recent win of Trinbago Knight Riders in the CPL 2020, the actor hopes to repeat the success with KKR in IPL.