Former Kerala Blasters CEO Varun Tripuraneni announced the new Indian Super League (ISL) team from Hyderabad, 'Hyderabad FC' which will take part from the 2019-20 season. Varun and Telengana businessman Vijay Madduri will be the owners of the club.
As Goal revealed earlier, the Wadhawan Group-owned FC Pune City will wind up operations due to financial issues and their right to participation in the ISL has been transferred to the new team from Hyderabad. The team are likely to play their home games from Gachibowli stadium in Hyderabad, though a final decision has not been taken.
As a new entity, the Hyderabad-based club is also set to escape the transfer ban that was handed out to FC Pune City. The Stallions were found guilty of tapping up Chennai City midfielder Nestor Gordillo and were handed a two-window transfer ban starting from January 2020.
An alumnus of the University of Texas at Austin where he completed his MBA, Madduri has been serving as the chief executive officer (CEO) of Hyderabad-based digital integration service provider Incessant Technologies for nearly a decade
Vijay is excited about this new venture, “I am thrilled and proud to be a co-owner of the club and I look forward to playing a significant role in developing football in the state, reviving its past glory. Sports has always been in my DNA and I am extremely happy to have a chance to contribute in this field”.
Commenting on his new venture, Varun Tripuraneni said, “It is a proud moment for me, to be co-owner of Hyderabad FC. Hyderabad is a city with great football culture. I look forward to working with key stakeholders and building a strong foundation for the club, which will eventually contribute to society and do the city proud. Our immediate task is to prepare for the new season.“
The sixth edition of the Hero ISL is scheduled to kick off on the 20th October in Kochi with Kerala Blasters hosting ATK.