Sachin Tendulkar to own majority stake in ISL franchise Kerala Blasters

Sachin Tendulkar to own majority stake in ISL franchise Kerela Blasters, to rise from 40% to 60%

Sachin Tendulkar, also known as the ‘God of Cricket’ in India plans to buy majority of ownership in his Indian Super League (ISL) franchise Kerala Blasters. Tendulkar who already has 40% stake in the franchise is planning to buy the remaining 60% stake held by PVP Ventures Ltd. Tendulkar is partnering with the Kerala based Muthoot Pappachan Group (MPG) and two more investors, as per people close to the team. Blasters were the runners-up in the first ever season of ISL 2014,losing in the final by Atletico de Kolkata. Tendulkar is said to the main brainchild behind this overhaul plan, which is soon to be made public. ALSO READ: ISL 2015 Points Table: Indian Super League results & team standings

Tendulkar will own around 60% stake with the remaining 40% being shared by MPG (20%) and two undisclosed investors (20%). We still await the new ownership structure to be made public. MPG has more than 100 years of experience in the field of gold loan better known by the name of Muthoot Fincorp. MPG also has its branches in the field of hospitality, automotive and IT services. There was no comment from the respective spokesperson of Tendulkar and MPG,  with PVP ventures being unavailable to comment on the proposed ownership plan. The total worth of PVP’s 40% stakes is to be estimated around Rs 40 crore with no official confirmation given yet. ALSO READ: Sachin Tendulkar: I’m coming to America in exactly a month with Cricket All Stars

ISL attracted a host of celebrities who wanted to own stake in the eight teams which were up for grabs in the inaugural season. Defending champions Atletico de Kolkata is partially owned by former Indian captain Sourav Ganguly, with Indian ODI skipper MS Dhoni and Test Skipper Virat Kohli co –owns the Chennai and Goa teams respectively. It is been said that all franchises are losing out on money as ISL is just one year old. Venugopal Dhoot, Chairman, Videocon Group who is also one of the investors in the Goa franchise was quoted , “If you see the football business, not just in India but across the world, economic viability takes time. Currently, it is an investment in football here. The franchise owners know that they will incur losses. It is a long bet, but the business will eventually turn profitable,”.