Dempo Sports Club owner Srinivas Dempo told PTI that the deal may not materialise as Shah Rukh has no time to attend the matches, which was a crucial understanding in the deal.
The club had approached Shahrukh, who is the co-owner of IPL team Kolkata Knight Riders, to pick up a stake in the club, the winner of last year's I-league championship.
"The proposal is still in the pipeline. Officially it has not been called off", Dempo said, adding the draft of the agreement had a clause that Shah Rukh will attend at least 8-10 matches annually.
"But he (Shahrukh) has indicated that he is finding it difficult. We are yet to reply to him", Dempo said.
He did not reveal the exact stake the actor was supposed to pick up in the Dempo Sports Club nicknamed 'The Whites'.
Dempo said the majority stake would have remained with the parent management even after inking the deal with Shahrukh.
"It was not about the money; it was about the popularity of the club. At least for important matches we were expecting his presence", added Dempo.
