ISL 2015: Sachin Tendulkar to buy additional 20% stake in Kerala Blasters
Sachin Tendulkar is all set to increase his stake by 20% in Kerala Blasters.
New Delhi: Following his team's good start in the second edition of the Indian Super League (ISL), Indian batting legend Sachin Tendulkar, who currently owns 40% stake, is all set to own additional 20% more stake in the popular franchise.
According to a Times of India report, Tendulkar, who currently owns 40% stake, will partner with Kerala-based Muthoot Pappachan Group (MPG) and two other investors to buy out the other 60% currently held by PVP Ventures Ltd.
Kerala's financial services major Muthoot Pappachan Group, which is currently the title sponsor of the team, will also acquire close to 20 per cent from PVP Ventures.
The deal is awaiting formal announcement after legal formalities.
Kerala Blasters were ranked second in ISL's inaugural edition where they suffered defeat against Atletico de Kolkata in the final.
This year too, they have made a formidable start after getting off to a rollicking start, recording a convincing 3-1 win over NorthEast United FC.