Tendulkar becomes majority shareholder in ISL Kerala team
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Tendulkar becomes majority shareholder in ISL Kerala team
#1
MUMBAI: Master Blaster Sachin
Tendulkar has acquired an additional
20 per cent stake from Hyderabad-
based PVP Ventures to become the
largest shareholder in the Indian
Super League (ISL) franchise Kerala
Blasters.
Tendulkar, who owns 40 per cent in
the franchise, will effectively own 60
per cent stake following the
acquisition.
Muthoot Pappachan Group, which is
also the title sponsor of the team,
will buy an additional 20 per cent
stake in the team while PVP will
retain the balance 20 per cent. PVP,
which owned 60 per cent stake in the
franchise, has been looking to offload
its stake in the franchise for quite
some time.
According to The Economic Times, the
deal is valued close to Rs 75–Rs 85
crore (Rs 750–850 million), valuing
the franchise at Rs 180–Rs 200 crore
(Rs 1.8–2 billion).
Kerala Blasters had made it to the
final in the first season of the ISL
where it lost to Sourav Ganguly co-
owned Atlético de Kolkata.
http://www.televisionpost.com/news/tendu...rala-team/
ANIL G


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