Who will be Kerala Blasters' new owner? NRI-led consortium emerges as frontrunner

The sale of Kerala Blasters FC is nearing its final stages, with an NRI entrepreneur-led consortium emerging as the frontrunner to acquire the Indian Super League (ISL) club.

The consortium is understood to have reached an agreement in principle to buy the club in a deal reportedly valued at around ₹120 crore. The transaction is expected to be finalised within a week.

The development comes after current owners Magnum Sports decided to sell their entire stake in the club amid mounting financial losses.

Kerala Blasters reportedly incurred losses of around ₹30 crore during the previous season. While Magnum Sports had initially sought ₹150 crore for the club, prospective buyers were unwilling to match the asking price. The deal is now believed to have been struck at a lower valuation of around ₹120 crore.

Hyderabad-based Magnum Sports is backed by chairman Nikhil B Nimmagadda, with Telugu film star Chiranjeevi among its shareholders.

If the acquisition goes through, it will mark the first time a Malayali becomes part of the club's ownership group. Kerala Blasters, one of the founding clubs of the ISL, was established in 2014 and remains one of Indian football's most widely supported teams.