Khan, co-owner of IPL-V champions Kolkata Knight Riders, made headlines recently after being in talks to acquire 50 per cent shares in Dempo, the most-successful I-League club.
"50 per cent of KKR's popularity is because of Shah Rukh. If he comes to football, I think more 'Saas-bahu' serial-walas would watch football. It will make a big big impact -- and a positive impact -- on the Indian football," Bhutia told reporters on the sidelines of a programme here.
Bhutia said many potential investors who were not so sure about the future would get confidence if Khan bought a stake in Dempo.
"Personally speaking, I've been fighting, discussing a lot to get some investors into my team United Sikkim. So SRK coming to football will not only help Dempo but also others.
"If Shah Rukh buys a stake in Dempo, hopefully Salman Khan would be interested in coming to United Sikkim," he said in a lighter vein.
"If they come, it would take the game to a different level altogether. The kind of mileage the team is going to get will be phenomenal," he said.
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Brand ambassador of Bengal and coowner of KKR, SRK chose Goa to invest in football but Bhutia said Kolkata clubs did not need the support of the Bollywood star.
"The Kolkata clubs have many sponsors. They have Vijay Mallya sponsoring two teams. There is also Prayag Group. I don't think the Kolkata clubs need SRK."