As per the deal, Knight Riders, will join hands with American Cricket Enterprises to become a stakeholder in development of the sport in the region.
Tonight's losers' qualification hopes will depend on the net run rate in case Sunrisers Hyderabad win their final league game against Mumbai Indians on Tuesday.
KKR finished the league stage with 14 points from 14 games with a net run-rate of -0.214, which currently puts them in fourth spot in the table.
"What makes it difficult is he's not somebody who speaks a lot! So sometimes it becomes difficult for the management to gauge a player," said the CSK captain after Gaikwad scored his second successive fifty.
The result also meant defending champions Mumbai Indians qualified for the play-offs.
Varun's father Vinod Chakravarthy is a half-Malayali.
The 29-year-old, who only started taking his spin bowling seriously in 2018, said he was not expecting to be picked in the national team. He has played only 12 T20s and featured in a lone first-class game.
Casing 150 on Monday night, Gayle, who was overlooked and was also ill in the first phase of the IPL, showed why he is called the 'Universe Boss' during his innings of 51 off 29 balls against KKR.
Mandeep and Gayle were associated in a 100-run partnership for the second wicket that took them to the brink of the big win.
Varun Chakravarthy claimed 5/20 as KKR won by 59 runs.