Lalit Modi Reveals How Shah Rukh Khan, Who Didn’t Like Cricket, Became KKR Owner

Fugitive businessman and IPL founder Lalit Modi has revealed how Shah Rukh Khan came on board as the owner of IPL franchise Kolkata Knight Riders (KKR).

Lalit Modi revealed how he convinced Shah Rukh Khan to buy IPL team KKR.

Source : X/Lalit Modi and ANI

Show Quick Read

Key points generated by AI, verified by newsroom

• Lalit Modi shared how Shah Rukh Khan became IPL owner.
• Modi took Khan to cricket game; crowd reaction was immense.
• Khan was initially hesitant due to lack of cricket interest.
• Nokia sponsorship helped Khan secure funding for the team.

Fugitive businessman and IPL founder Lalit Modi recently appeared on a podcast hosted by Humans of Bombay founder and CEO Karishma Mehta. During the conversation, he opened up about several aspects of his life, from his relationship with Sushmita Sen to the creation of the Indian Premier League (IPL).

Among the many topics he discussed, one of the most fascinating was the story of how Bollywood superstar Shah Rukh Khan eventually became the owner of IPL franchise Kolkata Knight Riders, despite having little interest in cricket at the time.

Lalit Modi Took SRK To Watch Cricket

Recalling the events that preceded the IPL, and the founding of KKR and Shah Rukh Khan becoming its owner, Lalit Modi highlighted how the crowd went berserk after seeing the actor at the game. 

“I took Shah Rukh Khan to a game as BCCI President to Rajasthan when we had the first Rajasthan international game ever in the history of India, which is played at SMS stadium, which I renovated and built - and this was much before the IPL. A year before that. I saw the crowd going absolutely hysterical when he came to the match. He became the highlight of the match.”

According to Lalit Modi, that experience convinced him that Shah Rukh Khan had the star power needed to attract television audiences. At the time, prime-time television slots around 8 pm were largely dominated by daily soaps, and Modi believed a celebrity like Shah Rukh could help bring viewers to cricket broadcasts.

Convinced Shah Rukh Khan To Buy IPL Team

Modi revealed that Shah Rukh Khan was initially hesitant about investing in cricket because he neither followed nor understood the sport. Another major hiccup was the amount needed to buy the team.  “Shah Rukh didn’t like cricket, didn’t understand cricket, and didn’t know cricket. He’s a football fan. When I said to him, ‘I need you to buy a team and win a team,’ he was a little apprehensive at first. He said, 'I don't understand anything about cricket.’ I said, ‘Leave that to me. I will ensure that I put a team and a system in place for you if you happen to win it.’”

He added that Shah Rukh Khan became even more hesitant when the topic of investment came up, and was not immediately convinced about buying a team. “He asked, ‘How much is it going to cost?’ I said, 'The down payment is Rs 20 crore or $5 million.’ He said, 'But that’s a big part of my savings account.’ I said, ‘Yes, I understand.’”

Nokia Deal Helped SRK Come On Board

Lalit Modi also recalled how a sponsorship arrangement with Nokia helped make the investment more attractive for Shah Rukh Khan.

“There was a company called Nokia that made handsets. They were desperate to have Shah Rukh Khan as a brand ambassador for Nokia. Shah Rukh wasn’t interested in talking to Nokia, and I couldn’t interfere in his business. That’s his personal endorsement business. But I did say to Nokia, ‘If Shah Rukh Khan were to win a team, would you sponsor the front of the shirt of the team? I can guarantee Shah Rukh Khan will wear your T-shirt and wear the cap with Nokia on it. And will you pay a $5 million advance payment for that?’ They said, ‘Sure.’”

Modi said the arrangement was known only to a few people and worked in favour of both parties.

“So it was a win-win for Nokia and Shah Rukh both. Shah Rukh put in the money - he wrote a cheque at 12 in the day and by the evening, Nokia had already written another cheque to sponsor the team and the KKR consortium.”

Reflecting on the early days of the IPL, Modi said he had to ensure that the league was commercially viable for team owners while also attracting broadcasters, sponsors, advertisers and viewers.

“So I had to worry about the owners making money and not losing money. On the other hand, I had to make sure that it clicks and there’s viewership and advertisers come in, and a broadcaster is ready to broadcast. Sponsor is ready to sponsor it. So there were so many different hats I had on, and each one of them I had to make sure that I played it right and did the right thing.”