KOCHI: Kerala Blasters co-owner Sachin Tendulkar on Sunday ended his four-year association with Kochi-based ISL franchise Kerala Blasters by selling off his 20 per cent stake.
Tendulkar sold his shares to fellow promoters and film stars Chiranjeevi and Akkineni Nagarjuna, producer Allu Aravind and industrialist Nimmagadda Prasad.
He and entrepreneur Prasad V Potluri had bought the franchise for Rs 120 crore over 10 years, but the latter sold his stakes. With the club incurring a loss close to Rs 100 crore in four years, the new majority stakeholders reportedly had a rethink on Tendulkar’s role. It is reported he has been charging `1 crore per every Blasters game for appearing.
Earlier, it was reported NRI businessman Yusuffali M A’s Lulu Group had struck a deal to take over Blasters. However, both parties denied it.