KOCHI: A consortium led by UAE-based Al Fursan Group has taken complete ownership of Kerala Blasters FC, one of the most popular clubs in the Indian Super League. The announcement was made at a news conference in Kochi on Tuesday. Club officials did not disclose the value of the transaction, but sources indicate that the deal is worth about Rs 120 crore, placing it among the largest foreign investments in Indian football in recent years.The takeover ends the tenure of Hyderabad-based Magnum Sports, which had owned and managed the club since 2016. Kerala Blasters CEO Abhik Chatterjee said the ownership transfer will be carried out in phases and is expected to be completed over the next eight months.Under the new arrangement, the club’s operations will be managed by Ofioh Sporty. Its CEO, Thameem Anvar, said the new owners have plans to develop a dedicated stadium for the Blasters. He added that more details would be revealed once “Project Blasters” is formally announced.There had been speculation that the club could shift its base to Kozhikode, but Chatterjee clarified that Kochi will remain Kerala Blasters’ home. The team will continue to play its home matches at the Jawaharlal Nehru International Stadium. Addressing expectations for the upcoming season, he said the club’s ambition to win remains strong, though preparations are limited by time. He also confirmed that Ashley Westwood will continue as head coach and will take decisions on squad matters.Chatterjee dismissed reports suggesting that the Blasters’ opening home match could be postponed. He said delaying the fixture would be unfair to other teams because the league schedule has already been released.Al Fursan Group is understood to have backing from business interests connected to Sharjah’s ruling Al Qasimi family. Its entry gives a Gulf-based investment group control of a club with one of the largest fan bases in Indian football.The acquisition comes as Kerala Blasters prepare for the 2026-27 ISL season. Magnum Sports had been seeking a buyer, and interested parties completed financial, legal and operational due diligence before the sale was finalised.