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Shah Rukh Khan co-owned “Knight Riders” is eyeing overseas sports franchises, as it looks to expand the brand globally. While discussions are under-way for having a new team in the proposed T20 league of the Emirates; cricket may not be the only sport where it eyes acquisitions.
Apart from the Kolkata Knight Riders (KKR) franchise in the Indian Premier League, the (Knight Riders) brand has been extended to cricket leagues in the Carribean and South Africa.
According to Venky Mysore, CEO and MD, KKR, the company could end up with about four franchises within this year, if discussions in the Emirates materialise.
“They (the Emirates) are talking about launching a league and want us to come in and take a franchise. We are looking into that,” he told BusinessLine.
Becoming a global brand
According to Mysore, Knight Riders is on track to be a “global brand” in sports. Apart from KKR, that has turned profitable, the acquisition of a Trinidad and Tobago franchise in 2015 (later named as Trinbago Knight Riders) has done well too.
In 2017 it was awarded the Cape Town franchise (called Cape Town Knight Riders); but plans around the league and franchise are yet to materialise on expected lines.
“We have a team in the Caribbean,(and) another potential franchise in South Africa. And we could have one in the Emirates. So before you know it, there could be four or may be five franchises. Then we are literally playing round the year across the Knight Riders brand,” he said.
While re-branding teams under a mother brand has helped as it leads to common marketing programs, round-the-year activities and better engagement with fans. For instance, a result of such round the year activities is the near 35 per cent (year-on-year) rise in merchandising revenues.
Mysore admits that his company has looked into other sports but the “structure of the league” has not fitted-in.
According to him, the company keeps getting offers for taking up teams in upcoming leagues across sports such as badminton, wrestling and others.
There’s l a new offer every month which he and his team evaluate. But, such proposal have to be fit ‘strategically’ and ‘ financially’.
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