KOCHI: The controlling stakeholders of Kerala Blasters Football Club (KBFC) confirmed on Sunday that they were buying out cricket icon Sachin Tendulkar’s 20% “sweat equity” in the Indian Super League (ISL) franchise.
The statement issued by the existing 80% shareholders of KBFC comprising IQuest Enterprises, Chiranjeevi (Telugu film superstar and politician) and Allu Arvind (Telugu film producer and distributor) closed the lid on media speculation doing the rounds that UAE based billionaire businessman and Keralite MA Yusuf Ali, whose LuLu Mall in Kochi is the largest shopping mall in India in terms of total area, had not just bought Sachin’s shareholding, but taken a controlling stake in the ISL franchise.
The KBFC shareholders stated: “The existing 80% shareholders of KBFC comprising IQuest, Mr Chiranjeevi and Mr Allu Arvind have entered into a definitive agreement to acquire Sachin Tendulkar’s 20% stake in the club.
“Any other news regarding the shareholding is purely speculative in nature.
“Sachin has been a great support and we thank him for his immense contribution to KBFC. He will forever be a member of the Yellow Army. As it has been, we will continue to uphold and take forward, the spirit of the sport, spirit of the fans and the spirit of Kerala.”
Sachin also issued his own statement on the development, saying “a piece of my heart will always beat” for Kerala Blasters. Tendulkar has been an integral part of the Blasters set-up since its inception in 2014 and was often seen cheering the team from the stands in home and away games.
Said Sachin: “In its fifth year, it is important that the club puts the building blocks for the next five years and beyond. It is also a time for me to reflect on the role that I should play. After reflecting and much discussion with my team, I have decided to exit my association with Kerala Blasters as a co-promoter.
“I strongly believe that Kerala Blasters is in very good shape and on its path to attain many more successes with the backing of its fans offering unconditional support. I am very proud of Kerala Blasters and a piece of my heart will always beat for the club.
“Over the last four years, Kerala Blasters Football Club has been an integral part of my life. I have undergone all the emotions that millions of Kerala Blasters fans have undergone during this period.
“My association with Kerala Blasters was driven with the intent to reignite the passion for the game and give the many fans and the abundant talent in Kerala, a national platform to express themselves.
“It has been a thrilling experience to chase this pursuit and something which I will always cherish.”
Kerala Blasters finished as runners-up in the inaugural edition of ISL in 2014 and 2016, both times going down to ATK in the summit showdown.
