Delta Corp chairman Mody buys 65 percent stake in FC Goa

Jaydev Mody, chairman of Delta Corp, has bought the 65 per cent stake jointly held by Dattaraj Salgaocar and Shrinivas Dempo in the FC Goa football team, which is part of the Indian Super League.

"This is an exciting time for us. Indian sport has come into its own and football is skyrocketing in popularity. The success of the league and the team has been extraordinary - and FC Goa has become a unifying brand for all Goans," read a statement from Mody.

"It is to the credit of both, Salgaocar and Dempo, that this has happened. They showed wisdom and a pioneering spirit in their stewardship of the club, which comes from a deep love for the game. We hope to walk the same path and try and take the team to the next level," he added.

The ISL team's co-owners Dempo and Salgaocar withdrew their stake from the franchise two days ago soon after the ISL appeals’ panel lifted the ban on the duo for "bringing disrepute" to the tournament following last year's final.

The appeals panel also revoked the 15-point penalty imposed on the club, besides reducing the Rs 11 crore fine and lifting the ban on the franchise owners.

The final of the 2015 edition of the ISL was marred by violence and controversy when players and officials of FC Goa and Chennaiyin FC engaged in scuffles after the conclusion of the match, with the Goans also boycotting the prize distribution ceremony.

Mody said he is committed to Goan football and hopes to carry on the work done by Salgaocar and Dempo. He said he is looking forward to working with the team, the entire coaching and support staff, and its management.

The remaining stake in the team continues to be held by the Videocon Group and India cricket captain Virat Kohli.