Sachin Tendulkar have plans to own majority stake of ISL franchise Kerala Blasters. Tendulkar is planning to buy 60% stake from PVP ventures Ltd, as he already own the rest 40% of the franchise.
Tendulkar is partnering with Muthoot Pappachan Group (which is Kerala based) and two other investors. Blasters where finalist in the first season of ISL, where they lost against Atletico De Kolkata.
It is planned so that Tendulkar will own the 60% of the shares where MPG will have a hold of 20% and other two ventures will have own the rest 20%. The ownership structure of the Team has not been made public.
ISL have attracted many Indian cricketers towards itself. Former Indian captain Sourav Ganguly own shares in the defending champion team Atletico De Kolkata, while India ODI skipper MS Dhoni owns shares in the Chennai’s team and Test skipper own in Goa’s team. It has been said that the franchises of team are losing money as it’s just one year for ISL.
Venugopal Dhoot, who is investor in the Goa franchise said that currently football is just an investment in India. It’s possible that the franchise will have to incur loss in the starting year. He also added that putting money in ISL is long bet but in the end the business will eventually turn profitable.