Shah Rukh Khan-owned Caribbean Premier League (CPL) franchise Trinidad and Tobago Red Steel has been re-branded as the Trinbago Knight Riders (TKR).
The marquee asset mainly includes office buildings in Gurgaon’s prime Cyber City area & also in Chennai, and Hyderabad where blue chip companies have their offices.
“Once the two companies are integrated, the merged entity will raise between $100 million and $150 million from outside investors,” a source said.
Bahrain-based TAIB Bank is a shareholder in Noida IT Park Ltd. In 2008, the investor had put in Rs 102 crore to pick up 49% in Logix Techno Park.
The next four months will see brands spend close to Rs 2,500-3,000 crore on back to back T20 action on both on ground and on air sponsorship.
“Five different investors have evinced interest and are willing to put the full cheque of the transaction," said Saurabh Chawla, senior executive director finance at DLF.
Star India will continue to broadcast Premier League matches across India on the Star Sports channels, as well as stream on its digital platforms.
The sale of the stake in rental arm, which houses office and retail assets, to long term investors was estimated to yield Rs 12,000-14,000 crore.
The team also announced Australian Brad Hodge as its coach and the players include Ravindra Jadeja, Brendon McCullum, James Faulkner and Dwayne Bravo.
The controversies that have bedevilled the Indian Premier League don’t seem to have dented its value as an advertising property.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon