Al Fursan signs definitive deal to buy 100% of Kerala Blasters over eight months

What was announced

Kerala Blasters said in a statement that Magnum Sports Private Limited had entered a definitive agreement for the 100% sale of the club and that the new ownership group would be announced in due course. The statement did not name the buyer. Al Fursan, a Dubai-based sports and sports-tech consortium, announced the acquisition the same day. The group is led by Sheikh Ahmad bin Faisal Al Qasimi, a member of the Sharjah ruling family.

The agreement covers the entire shareholding and is subject to regulatory and league requirements. The new ownership will assume responsibility for the club from the 2026-27 season. Magnum Sports, based in Hyderabad, had owned the club since 2016.

Outgoing chief executive Abhik Chatterjee, who announced the deal at a press conference in Kochi, called it "a very important day in the history of the club." The club said its operations and existing commitments would continue without disruption during the transition.

Who runs the club

Kerala-based sports management firm Ofioh Sporty has been appointed operational partner. Chief executive Thameem Anwar and co-founder Sharath Kuniyil will oversee day-to-day operations. Anwar said the club was "in safe hands." Ashley Westwood will remain head coach for the 2026-27 season.

Pre-season work begins on Wednesday, with players and staff already identified and shortlisted and a full squad announcement expected this week. Further announcements on player signings are expected shortly.

Birbal Sports & Entertainment, founded by Jitesh Mehta and Ronak Dalal, facilitated the transaction and will assist with player identification and recruitment for the 2026-27 season.

Reported valuation

The club's announcement did not disclose financial terms. Mathrubhumi reported the deal at around ₹100 crore to ₹120 crore and said the acquisition would be completed in phases over eight months. Sporting News reported that Magnum Sports had initially sought closer to ₹150 crore and that the club lost around ₹30 crore last season. At the reported valuation, the sale price is roughly three to four times that annual loss. Neither Al Fursan nor Magnum Sports has confirmed the figures.

Al Fursan's plans

Al Fursan said the immediate focus of the new ownership and management is "to provide the football department with the structure, resources and support required to prepare competitively for the season ahead." A new company, Project Blasters Private Limited, was registered in Bengaluru on 24 September as an Al Fursan initiative covering academies, players, teams and clubs, according to Sporting News.

The consortium also plans a wider Project Blasters spanning sports technology, commercial ventures, fan engagement, infrastructure and community development, to be launched in the UAE in the coming weeks. Dunston Pereira, chief executive of the Private Office of Sheikh Ahmad bin Faisal Al Qasimi and a director of Al Fursan, will attend the club's first home match.

What happens next

Kerala Blasters open the 2026-27 campaign against Inter Kashi on 11 October, likely in Ranchi. Their first home match is against Mumbai City FC at the Jawaharlal Nehru International Stadium in Kochi on 25 October, kick-off 7.30pm. The club will play all home matches in Kochi this season, and discussions are due on the rental arrangement for the stadium.

The first two matches are away, in Ranchi and Guwahati, and the club is planning friendly matches in the Malabar region. The club is set to play 14 matches in the first phase of the 2026-27 campaign. The ownership transfer is expected to be completed towards the end of the 2026-27 season.