Kolkata Knight Riders Explore Minority Stake Sale as IPL Franchise Deals Heat Up

Deal activity around Indian Premier League franchises is heating up, with Kolkata Knight Riders emerging as the latest team to weigh a transaction. According to multiple industry sources speaking to Moneycontrol, a minority stake sale is under consideration at the Shah Rukh Khan-backed franchise, even as peers Royal Challengers Bengaluru and Rajasthan Royals mull larger ownership changes.

KKR is owned by Knight Riders Sports Private Ltd, a joint venture formed in 2008 between Red Chillies Entertainment, promoted by actor Shah Rukh Khan, and the Mehta Group, backed by Juhi Chawla and industrialist Jay Mehta. Red Chillies Entertainment is understood to hold a 55 percent stake, while the Mehta Group holds the remaining 45 percent.

Unlike RCB and RR, which are exploring the sale of majority or controlling stakes, only the Mehta Group is considering the sale of a minority holding in KKR to unlock value, sources said. The talks at this point are still preliminary in nature, sources added, with the stake size and valuation yet to be determined. People with knowledge of the developments said Nomura has been mandated as the sell-side advisor for the proposed deal. Early 2026 is when the process could formally kick off, although deal contours may evolve depending on investor interest and market conditions.

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Kolkata Knight Riders Founded: 2008

Kolkata Knight Riders (KKR) is a cricket team in the Indian Premier League (IPL).

A KKR spokesperson declined to comment on the sensitive information. Red Chillies Entertainment, Jay Mehta, Juhi Chawla, the Mehta Group and Nomura did not respond to queries at the time of going to press.

KKR are one of the most successful franchises in the history of the IPL, having won the IPL thrice: in 2012, 2014, and most recently in 2024. The franchise finished as runners-up in the 2014 Champions League T20 and the 2021 season of IPL. Eden Gardens of Kolkata is the home ground of the franchise.

Beyond IPL, Knight Riders Sports has built a global cricket footprint, owning Trinbago Knight Riders in the Caribbean Premier League, Abu Dhabi Knight Riders in the UAE's ILT20, and Los Angeles Knight Riders in Major League Cricket in the US.

#MCExclusive |🚨 Its not just RCB and Rajasthan Royals, but now a part stake sale is also in the works at Shah Rukh Khan, Juhi Chawla & Jay Mehta owned 3- time IPL title winner Kolkata Knight Riders ( KKR) reports @ashwinmohansays

Details here⤵️| #RCB #KKR… pic.twitter.com/Jxb7QIvLNK

— Moneycontrol (@moneycontrolcom) December 18, 2025

The potential KKR transaction is part of increased M&A interest in the IPL ecosystem. Promoters of Rajasthan Royals have started preliminary discussions for the sale of a controlling stake at a valuation of more than $1 billion, while United Spirits Ltd is reviewing its investment in Royal Challengers Bengaluru, reportedly seeking a valuation of about $2 billion.

The IPL teams' investor appetite has been fueled by the league's strong financial fundamentals. Overall business value for the league has climbed to $18.5 billion, while brand value has risen to $3.9 billion, according to Houlihan Lokey's IPL Valuation Study 2025. The estimated brand value of KKR was $227mn, ranking fourth amongst franchises. It highlights the fact that long-term media rights, centralised revenue sharing, and a strict salary cap confer predictable cash flows and margin protection on IPL teams-features that global institutional investors are increasingly finding attractive.

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by K D Mishra December 19, 2025