Legendary cricketer Sachin Tendulkar, who is one of the co-owners of the Indian Super League (ISL) outfit Kerala Blasters Football Club, in all likelihood will 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 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 percent.
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 entreprenuer Prasad V Potluri.
In 2015, Potluri and his company PVP Ventures sold off their stakes and Tendulkar had then become 40 percent 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 per cent stakes, an additional 20 percent was bought from Tendulkar also.
Source: Financial Express