Shah Rukh eyeing majority stake in Indian football club

Dubai Bollywood actor Shah Rukh Khan is reported to be acquiring a 50 per cent shareholding in Dempo FC, the five-time Indian League champions and one of India’s oldest football clubs.

A report appearing in India’s Financial Times said that Khan, the owner of Kolkata Knight Riders (KKR) who won the fifth edition of the IPL (Indian Premier League) last week, has had positive talks with Dempo officials over the past few weeks.

Negotiations to seal the 50 per cent stake deal for an estimated Rs 300 million (Dh19.69 million) are believed to be at an advanced stage and are expected to be sealed within a week or two, as per the report.

It is believed that there are other suitors to acquire the 50 per cent stake on offer at Dempo, among them an ace unnamed cricketer, known to be a keen footballer, and a few corporate houses.

However, Khan has emerged as the leading candidate in the eyes of Dempo FC owner Shrinivas Vasantrao Dempo, whose father along with friend Michael D’Souza took over Bicholim Sports Club and re-christened it Dempo FC in 1966.

Dempo has also been quoted in the report confirming that he has met Khan several times and that “talks have been very positive, though not yet closed”.

A keen sportsman, Khan has been trying to diversify into sports under the framework of his entertainment business run through Red Chillies Entertainment. Last month, Dempo FC won the I-League for a record fifth time and it has also recently bought a 34 per cent stake in leading Danish football club and academy FC Midtjylland for an estimated 12 million euros (Dh54.4 million).