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ISL: Telangana businessmen Vijay Madduri & Varun Tripuraneni to be the owners of the new Hyderabad franchise

8:37 AM GMT+4 26/08/2019
Varun Tripuraneni Kerala Blasters CEO
The businessmen from Telangana will be the owners of the new Hyderabad franchise which will replace Pune City in the ISL...

Indian Super League (ISL) is set to have a new team from Hyderabad for the upcoming season in place of FC Pune City who are closing down first team operations, Goal can confirm.

The Wadhawan Group-owned club, riddled with financial issues, is set to wind up their first-team operations. As a result, their right to participation in the ISL is set to be transferred to a 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.

The ban would have applied to the new team from Hyderabad as well if they had taken over FC Pune City officially.

Goal understands that Telangana businessman Vijay Madduri is one of the co-owners of the new Hyderabad-based team alongside former Kerala Blasters CEO Varun Tripuraneni.

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

The former software engineer has previously served as the director of sales and client services for Virtusa India Pvt Ltd while he has also undertaken a one-year executive leadership program from the prestigious Yale School of Management in 2015.

Meanwhile, Varun is no stranger to ISL. He was the Chief Operating Officer (COO) at Chennaiyin FC during the initial years of the ISL before he joined Kerala Blasters as the CEO at the start of the 2017 season.