PORT OF SPAIN, Trinidad, CMC – The wealthy owners of Indian Premier League franchise, Kolkata Knight Riders, are set to acquire the Trinidad and Tobago Red Steel, the Caribbean Premier League announced Tuesday.
KKR, one of the popular and most successful IPL sides, is owned by Bollywood star Shah Rukh Khan, in conjunction with several other business principals.
The sale is subject to all regulatory approvals, the CPL said.
“This deal represents yet another great step forward in the story of the CPL as it grows in status and popularity around the world,” said CPL chief executive Damien O’Donohoe.
“KKR are a huge franchise in the world of cricket, so for a brand like theirs to choose to invest in the CPL proves that we are doing all the right things and heading in the right direction. It’s a really positive step for the competition and for Caribbean cricket in general.”
Shah Rukh Khan said the proposed acquisition was in keeping with KKR’s global appeal and focus.
“This is in line with our vision to expand globally and we are thrilled to become part of the great cricketing tradition of Trinidad & Tobago,” he said.
“The passion for franchise cricket in the Caribbean is evident with the success of CPL and we hope to bring all the best practices of KKR to the T&T franchise.”
Red Steel are one of six franchises that comprise the Caribbean Premier League, the high profile Twenty20 tournament which started in 2013.
They feature the likes of highly sought-after all-rounder, Dwayne Bravo, have reached the semi-finals in both editions of the tournament.
CPL’s chief operating officer, Pete Russell, said he was delighted with the proposed move by KKR’s ownership.
“Shah Rukh is a huge name around the world and is also very popular in Trinidad & Tobago, so this is a perfect fit,” he said.
“Trinidad & Tobago is one of the heartlands of Caribbean cricket, and a hugely important market for the CPL, and this will help the franchise, as well as the wider competition, continue to grow both at home and around the world.”
This year’s CPL runs from June 20 to July 26 and will see 33 matches being contested among defending champions Barbados Tridents, Guyana Amazon Warriors, St Lucia Zouks, Jamaica Tallawahs, St Kitts and Nevis Patriots, along with Red Steel.
