Kerala Blasters FC, one of the Indian Super League’s most passionately supported clubs, is navigating the most challenging period in its 12-year history as mounting financial losses force its owners to seek a sale. The club’s current squad features the following players:
Goalkeepers: Arsh Anwer Shaikh (31), Alsabith T (81)
Defenders: Sandeep Singh (3), Hormipam Ruivah (4), Jaganath Jayan (15), Matías Hernández (21), Aibanbha Dohling (27), Sumit Sharma (30), Fallou Ndiaye (44), Naocha Singh (50), Bikash Yumnam (63)
Midfielders: Freddy Lallawmawma (6), Vibin Mohanan (8), Rowllin Borges (22), Karim Benarif (25), Ebindas Yesudasan (47), Lalthanmawia Renthlei (97), Adrián Luna
Forwards: Korou Singh (11), Salahudheen Adnan K (14), Sreekuttan MS (45)
The club’s financial woes intensified significantly after Football Sports Development Limited (FSDL) stepped away from managing the ISL, ending the broadcast and commercial revenue distribution that clubs had previously relied upon.
The Blasters, who used to receive approximately ₹30 crore annually from broadcast and commercial revenue, have seen the league’s broadcast rights value plummet from around ₹270 crore to just ₹8-9 crore last season, leaving the owners unable to absorb the mounting losses. The proposed sale of the franchise has entered a crucial phase, with a consortium of prospective buyers—led by a Kerala-born expatriate investor—currently conducting an extensive due diligence process.
The financial uncertainty has taken a tangible toll on the club’s playing and management structure. With only 13 players currently remaining in the squad, including captain Adrian Luna following his return from a loan spell in Indonesia, the team faces significant challenges ahead of the new season. Several senior management officials have been let go, leaving only the chief executive officer in place. The club’s market value has also suffered a massive loss of ₹29.6 crore, the biggest setback among all ISL clubs, reflecting reduced squad depth and cautious spending.