KKR will invest in Major Cricket League in the US:
The Indian Premier League franchise Kolkata Knight Riders (KKR) has announced that the Shahrukh Khan co-owned franchise will be investing big in the American T20 League which is a multi-million dollar tournament. KKR is likely to own the Los Angeles franchise of the cricket league and it will be named as LA Knight Riders. The partnership between America Cricket Enterprises (ACE) and KKR will include financial investments and expertise to help ACE develop and launch the Major Cricket League in the US.
With this major investment, the Knight Riders have entered the world's largest media market. This might be considered as the biggest change for the future of American Cricket as well. The league's inaugural season will be expected to kick off in 2022.
The investment is being led by Shahrukh Khan, along with his partners in the KKR franchise - Juhi Chawla and her husband Jay Mehta. According to the sources, the Knight Riders is also likely to own and run the Los Angeles franchise, a city that plays host to iconic clubs like the LA Lakers (Basketball) and the LA Galaxy (Football).
The Kolkata Knight Riders also own Trinbago Knight Riders in the Caribbean Premier League (CPL), a franchise it bought in 2015. Between 2008 and now, the Knight Riders have won the IPL title twice (i.e. 2012 and 2014) and the CPL title four times in six editions thus far.
“For several years now, we have been expanding the Knight Riders brand globally and closely watching the potential for T20 cricket in the US. We are convinced that Major League Cricket has all the pieces in place to execute its plans and we look forward to making our partnership an enormous success in the coming years,” Shahrukh Khan said in a statement.
Kolkata Knight Riders CEO Venky Mysore said, “We have had a keen interest in the US and our expansion is consistent with our long-term strategy. We look forward to the new challenge of building cricket in the world’s most sophisticated sports & media market,” says Mysore.
ACE co-founder Vijay Srinivasan said, "The combination of Bollywood and T20 cricket has been extremely successful in other markets, and we're looking to leverage that to the extent we can in content creation and the merger of entertainment and cricket."