After various Media reports suggesting that Lulu Group International has taken over all stakes of the club, Kerala Blasters, in its official statement, have denied the claims.
What’s the matter?
Lulu International Group is a UAE-based hypermarket chain that is owned by Keralite billionaire Yusuf Ali M.A. and own one of the largest malls in India, based in Kochi. They also have a great influence in the Middle East.
After Sachin Tendulkar sold off his stakes at the club which accounted for 20%, to the current owners i.e the Prasad Group, it was earlier reported that Lulu Group has bought all the stakes of the club.
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.