The Wadhawan Group, Pune City owners, as was reported earlier are winding up their club due to financial issues.
A Telangana entrepreneur along with former Kerala Blasters CEO Varun Tripuraneni will jointly own the franchisee that will replacement the Pune-based team, which is compelled to close its operations, states a goal.com report.
The new team will expectedly have its home base at Hyderabad’s Gachibowli Stadium. A formal confirmation on this is still awaited though.
Pune City FC were also facing a two-window ban on player transfer after the club was found guilty of unethically tapping Chennai City midfielder Nestor Gordillo.
It is reported that the ban will not apply on the new entity, owned by Madduri and Tripuraneni.
Madduri, an MBA from the University of Texas at Austin, has been serving as the chief executive officer 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.
Tripuraneni is a seasoned pro in football business. He was the Chief Operating Officer at Chennaiyin FC during the initial years of the ISL before joining Kerala Blasters as the CEO at the start of the 2017 season.
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