Kochi: Heading into the third edition of the Indian Super League (ISL), Kerala Blasters have changed hands. The Hyderabad-based media and entertainment house Prasad Group has secured an 80 per cent share in the franchise, while Sachin Tendulkar’s share has been halved to 20 per cent.
Prasad Group has bought the 60 percent share owned by former owners PVP Group and half of the 40 per cent previously held by Tendulkar.
Blasters had a great outing in the first edition of the ISL as they finished runners-up. Tendulkar and serial entrepreneur Prasad V. Potluri of the PVP Group shared the dais as co-owners of the team.
The partnership soured ahead of the second edition when the Securities and Exchange Board of India imposed a Rs 30 crore fine on the PVP Group for financial irregularities. Potluri was individually fined. The PVP Group withdrew from the management of the franchise, pushing it into a financial crisis.
The team survived on borrowed time under a management team appointed by Tendulkar. The team could not find replacement for three injured players, including marquee player Carlos Marchena. When Peter Taylor resigned as the team coach after four consecutive defeats, the team found it tough to replace him and settled for Blasters Academy coach Terry Phelan.
Not so surprisingly, the team finished last in the second edition of the ISL.
However, this year Blasters have been active in roping in quality players. Bengaluru FC’s defender Rino Anto and Chennai’s T. Haokip have already been signed up in addition to retaining C. K. Vineeth.
The new owners’ big challenge is to appoint a technical director before hiring a coach.
The Blasters fans are hopeful that the new owners can steer the team to a stellar performance in the league.
