Former India cricketer, Sachin Tendulkar, who currently has a 40% stake in the Indian Super League franchise Kerala Blasters, is set to buy another 20% stake from his current co-owners -- Hyderabad-based PVP Venture -- thus increasing his total share to 60% in the franchise.
Such a venture will see Tendulkar enjoy the majority share in the team as well, and also allow the former cricketer to have a greater say in the franchise.
PVP Ventures were willing to sell their stakes as they are eager to look into other projects. But, they are not selling their entire stake in the Kerala Blasters, as they want to remain a minority shareholder, with about 20% ownership of the franchise, while the Muthoot Pappachan Group will also hold a 20% stake in the franchise.
There is no clarity about the deal, but the value could be somewhere between Rs 75-Rs 85 crore, which puts the value of the Kerala Blasters at Rs 180 to 200 crores, reported Economic Times.
Since the advent of the Indian Super League last season, a number of present and past cricketers such as MS Dhoni, Virat Kohli and Sourav Ganguly have joined the bandwagon of co-owning a team.
So with Tendulkar deciding to increase his stake, will these aforementioned cricketers also follow suit?
However, it is understood that the owners are not going to make huge money straightaway from the ISL, as they are in for a long haul, with profits set to come in only in the future years.
Venugopal Dhoot, who is one of the investors in the FC Goa franchise, believes economic viability will take time.
"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," The Times of India quoted Dhoot as saying.
