Kerala Blasters' 20 per cent stake owned by Sachin Tendulkar has been acquired by the rest of the shareholders, the club announced.
The retired cricketer had earlier confirmed an end to his association with the Kochi-based club.
An official statement from Blasters read, "The existing 80 per cent shareholders of Kerala Blasters, comprising of IQuest, Mr Chiranjeevi and Mr Allu Arvind have entered into a definitive agreement to acquire Sachin Tendulkar’s 20 per cent stake in the club. Any other news regarding the shareholding is purely speculative in nature.
"Sachin has been a great support and we thank him for his immense contribution to Kerala Blasters. He will forever be a member of the Yellow Army.
"As it has been, we will continue to uphold and take forward, the spirit of the sport, the spirit of the fans and the spirit of Kerala.”
Kerala Blasters are currently in Thailand for their pre-season training. They will open their account in the fifth edition of the Indian Super League (ISL) against ATK on September 29 at the Salt Lake Stadium in Kolkata.