DEN Networks to sell off another 25% stake in Delhi Dynamos FC franchise

CURRENT INDIAN SUPER LEAGUE LEADERS have a change behind the scenes in the ownership of the franchise. DEN Networks have announced the sale of of another 25% to Wall Street Investments Ltd.

DEN Networks is selling an additional 25 percent stake in its business to Wall Street Investments Ltd, who are already a majority co-owner of the Dynamos, for an undisclosed amount.

The decision was confirmed when Wall Street Investments, has received an in-principle approval from Registrar of Companies of Delhi and Haryana for changing the name of DEN Sports & Entertainment and DEN Soccer to Delhi Sports & Entertainment and Delhi Soccer respectively.

The Board of Directors of DEN Sports and DEN Soccer met yesterday to considered and approve: Further transfer of 25 percent equity stake of DEN Sports from DEN Networks to Wall Street, change of name of DEN Sports and DEN Soccer subject to approval of RoC, other completion conditions in terms of agreement executed amongst DEN, Wall Street Investments, DEN Sports and DEN Soccer.

With this deal, the holding of Wall Street Investments has changed from 55 percent to increase to 80 percent and the holding of DEN has been come down from 45 percent to 20 percent.

Delhi Dynamos play their next game of the ISL on November 18, 2016.