Kerala Blasters have denied reports that industrialist M A Yusuff Ali’s LuLu Group will buy cricket legend Sachin Tendulkar's 20 per cent share in the Indian Super League (ISL) franchise.
Earlier, several websites had reported that LuLu Group has bought Sachin's share in Kerala Blasters and the 80 per cent share held by Hyderabad-based media and entertainment house Prasad Group.
“The existing 80 per cent of KBFC comprising of IQuest, Mr Chiranjeevi and Mr Allu Aravind have entered into a definitive agreement to acquire Sachin Tendulkar’s 20 per cent stake in the club,” the statement from Kerala Blasters read.
Tendulkar had parted ways with the club on Sunday.
Blasters, who finished runners-up in 2014 and 2016, is being coached by former England goalkeeper David James. The squad is currently in Thailand for pre-season training.
Blasters take on ATK in the inaugural match of ISL 5 in Kolkata on September 29. Blasters are slated to play Mumbai City FC in their opening home match on October 5.
Tendulkar had been a co-owner of Kochi-based Kerala Blasters ever since its inception in 2014. Initially, he owned its 40% shares and then had cut it down to half. Sachin is no more part of the Kerala Blasters management.