September 30: Kerala Blasters are set for a change in ownership after UAE investment group Al Fursan agreed a deal to acquire 100% of the Indian Super League club from Magnum Sports.
The deal was announced on September 29, although the acquisition is not technically complete, with the transfer of ownership expected to take place in phases over the next eight months. The acquisition remains subject to league and regulatory approval.
No official value has been disclosed for the sale, but Indian reports have pegged the deal at the equivalent of around £10m. Magnum had reportedly been seeking more than £11.7m prior to the sale process.
The most attractive part of the acquisition is probably the stadium plan. The incoming owners have said they want to build a new FIFA-standard home for the club, although that idea is still very much at the ambition stage.
No location, capacity, budget or construction schedule confirmed yet. As a result, Kerala will remain at the Jawaharlal Nehru International Stadium in Kochi for the 2026/27 season.
The wider ownership plan is being packaged under the name ‘Project Blasters’ and is expected to cover the first team, academy, grassroots football, infrastructure, technology and fan engagement.
Local company Ofioh Sporty India Private Limited has been appointed as the operating partner and has been tasked with handling much of the day-to-day execution at the local level.
Magnum Sports have controlled the club since 2016 but are now bringing the curtain down on a decade under current ownership.
Kerala Blasters were founded in 2014 but were still one of the original franchises of the Indian Super League and one of the most supported clubs in the competition.
The sale has been a long time coming. It has been looking for new investments for months, with due diligence on the club’s finances, contracts and liabilities. Local reports have suggested that Kerala lost around £2.3m last season, although this figure has not been confirmed.
Contact the writer of this story, Harry Ewing, at (email protected)
