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Knight Riders Group acquires Abu Dhabi franchise in UAE T20 League
Mumbai: UAE’s T20 League has announced that Knight Riders Group has acquired the rights to own and operate the Abu Dhabi franchise and will set up Abu Dhabi Knight Riders (ADKR) as a part of the UAE’s flagship T20 league.
After establishing Kolkata Knight Riders (KKR) in 2008 in the Indian Premier League (IPL), the Knight Riders became owners of the Trinbago Knight Riders (TKR) in the Caribbean Premier League (CPL) in 2015. Recently, the Knight Riders Group made an investment in Major League Cricket (MLC) in the US and intends to set up a franchise in the greater Los Angeles area.
This investment by the Knight Riders Group, which is led by Bollywood star Shah Rukh Khan, along with Juhi Chawla & her husband Jay Mehta, will establish their fourth T20 franchise around the world in IPL, CPL, MLC and now in UAE’s T20 league.
Khan said, “For several years now, we have been expanding the Knight Riders brand globally and closely watching the potential for T20 cricket in the UAE. We are excited about becoming part of UAE’s T20 League, which no doubt will become hugely successful.”
“The commitment to grow the T20 format and the expertise gathered by the Knight Riders Group, through their involvement in franchise cricket across the world, is undisputed,” commented UAE’s T20 League chairman Khalid Al Zarooni. “We are exceptionally pleased with their foresight to join forces with the UAE’s T20 League and firmly believe it will elevate the reputation, and professionalism of the League throughout the cricket community.”
“We are pleased with the association of the Knight Riders Group with the League as a franchise team owner, we are very confident that this association will be mutually beneficial for both Knight Riders brand and the League,” said Emirates Cricket Board general secretary Mubashshir Usmani. “UAE’s T20 League will attract some of the biggest names in world cricket while also giving a platform and international exposure to local and upcoming players.”
“We feel fortunate to have been consistently recognised as a global brand in T20 cricket,” stated KKR, Red Chillies Entertainment CEO Venky Mysore. “As T20 cricket expands around the world, we are flattered by the regular invitations to play a major role in growing the sport across the world. We have had a keen interest in the developments in the UAE and our expansion is consistent with our long-term strategy.”
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YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
