If one goes by the report from The Bridge, Chennai City FC co-owner Rohit Ramesh of the Hindu group is all set to acquire the majority stake of the Indian Super League (ISL) club Chennaiyin FC.
If this deal is completed, then Chennai City FC will cease to exist as it will form CFC with Ramesh becoming the majority stakeholder.
As per the rumours, the deal will also see Chennaiyin FC co-owners Vita Dhani and Abhishek Bacchan part ways with the southern club to form a new club which will be operated from the TansStadia in Ahmedabad.
At present, Rohit Ramesh and family co-own 69 percent of share in Chennai City FC while R Krishnakumar (5%) and FC Basel (26%) also have their stakes in the club.
The newly formed CFC might operate from the Marina Arena in Chennai.
Defending I-League champions Chennai City FC are currently languishing at the bottom half of the table. They sit in the 7th spot in the 11-team competition with 14 points in 11 matches. Recently the Akbar Nawas managed team lost 1-0 to Gokulam Kerala who with the win in Coimbatore move to the third position in the league standings.
City have so far won four matches, drawn two while losing five games. They next play TRAU FC on Sunday, February 16th while a week later they host Aizawl FC on February 23rd.
Meanwhile, two-time ISL champions Chennaiyin FC currently find themselves in the fifth spot in the ISL points table, a place below fourth-placed Mumbai City FC. Chennaiyin have so far played just 15 matches in the league and have collected 22 points in the process. With 6 wins, 4 draws and 5 losses, the Owen Coyle managed side still have the chance to progress to the play-offs given they win all their remaining three league games.
Having drawn their last ISL match against Bengaluru FC, the team will next play away against ATK on February 16 after which they will travel to Mumbai to play City on February 21. Their final league game will be against NorthEast United in Guwahati.
If they manage to qualify for the play-offs, then Chennaiyin will be guaranteed two more matches which will be a semi-final clash and if they come out victors in the two-legged tie then they will play the final in Bengaluru on March 8.