Sachin Tendulkar likely to sell off his stakes in Kerala Blasters
Tendulkar’s stake in the franchise is believed to be around 20%
New Delhi: Legendary cricketer Sachin Tendulkar, who is one of the co-owners of the Indian Super League (ISL) outfit Kerala Blasters Football Club, will in all likelihood be selling off his stakes in the franchise before the start of the new season.
The decision might come as a blow for the Blasters as Tendulkar had always been an integral part of the set-up and seen cheering the team from the stands in home and away games. Tendulkar has been associated with the franchise since its inception in 2014 and is currently one of the co-owners along with industrialist Nimmagadda Prasad, producer Allu Arjun, actors Nagarjuna and Chiranjeevi.
“Yes, there is a high possibility that Sachin might sell off his entire stakes that he had in Kerala Blasters. It had been an emotional association with the franchise but probably it’s time to move on,” an ISL source privy to the development told PTI on Saturday.
While it couldn’t be confirmed exactly how much stake Tendulkar had in the franchise, those in the know of things said that it is something around 20%. There are rumours that a billionaire industrialist with interest in hypermarket chain and shopping malls will be buying Tendulkar’s stake.
Tendulkar had bought the Kochi-based franchise back in April 2014 along with entrepreneur Prasad V. Potluri. In 2015, Potluri and his company PVP Ventures sold off their stakes and Tendulkar had then become 40% stake holder in the franchise. In 2016, Prasad along with the heavyweights of Southern film industry joined forces with Tendulkar. It was learnt that while they bought the 60% stakes, an additional 20% was bought from Tendulkar also.
Editor's Picks »
- DHFL aftermath: RBI, Sebi ready to act to calm markets
- Narendra Modi launches Ayushman Bharat scheme from Jharkhand’s Ranchi
- US may restrict Green Cards to aid recipients in new crackdown
- No concern on liquidity of NBFCs: SBI chairman Rajnish Kumar
- Infosys, TCS, 3 other IT firms shortlisted to implement RBI’s CIMS
- India’s renewable energy sector hits a milestone but loses speed
- All eyes now on share swap ratio in this mega bank merger
- Jet Privilege can actually get higher valuation than Jet Airways
- Profitability of cement firms to take a hit due to weak prices, high costs
- Pidilite’s shares hold their ground despite weak rupee and rising crude