After dropping “Kolkata” from Indian Premier League team Kolkata Knight Riders (KKR), actor Shah Rukh Khan has started discussions with Nokia, Sahara,the Anil Ambani group, and several other companies to sell the team he boughtjust over a year ago for Rs 300 crore, and exit the business.

According to sources in Red ChilliesEntertainment, KKR’s holding company, “Shah Rukh Khan has been trying to sell astake in KKR for some time now. But since most companies he approached alsowanted management control, Khan is now talking to Nokia, Sahara, Anil Ambaniand others to sell his entire shareholding.”

“If the Board for Control of Cricketin India (BCCI) does not increase the number of teams for next year, Khan couldget double what he paid,” said the Red Chillies official. Khan is supposed topay Rs 30 crore per year for the next 10 years. The total annual cost for theteam is about Rs 75 crore.

Khan had earlier said that KKR waseasily the most successful IPL franchise, making a Rs 13 crore profit lastyear. However, his costs trebled last year owing to interventions from theKolkata Municipal Corporation (KMC) and Cricket Association of Bengal.

According to initial calculations,Red Chillies had to pay Rs 90 lakh per match and was supposed to earn Rs 3crore if all stadium tickets were sold at Eden Gardens. Red Chillies had to payRs 20 lakh to the police and municipal tax of Rs 5 lakh. So its expenses permatch would have been over Rs 1 crore. But this figure had trebled.

Last year, however, Kolkata Policedemanded Rs 2 crore as security fees, against Rs 50 lakh that the organisers ofthe IPL offered. Then, the Kolkata Municipal Corporation (KMC) demanded Rs 25lakh from Red Chillies as amusement tax for holding IPL matches at EdenGardens.

To settle the dispute betweenKolkata Police and the IPL organisers over the cost of security arrangements atEden Gardens, Red Chillies Entertainment had to agree to pay Rs 75 lakh assecurity fees.

About 5,500 uniformed personnel andabout 1,500 sleuths were deployed to secure the stadium and its surroundingareas, since many celebrities were expected to watch the IPL matches at EdenGardens.