Minerva Punjab owner Ranjit Bajaj refutes claims of stake sale agreement with RoundGlass

The Seattle-based venture capital firm has been in talks with the Warriors since last week.

Minerva Punjab FC owner Ranjit Bajaj has cleared the air surrounding the reported stake sale of the club to a company named RoundGlass. He has denied all claims stating that 'not even the initial talks have begun, let alone the sale of any part of the club.'

The North Indian club were reported last week to be in advanced talks with the American company. However, Minerva owner Bajaj has refuted the claims. He revealed that nothing of the sort has happened and the two parties are yet to meet over a potential sale. Although, he insisted that he is looking to sell some or half of the entity to a buyer.

"We have not received any offer until now. There is no player which has been signed. It is all bullsh*t what people are talking about," Bajaj said.

He continued, "We have not even come to a deal where we know what amount are they offering and what all stakes they want. It is all being reused from last week's news."

Minerva Punjab are set to find a new co-owner. Will we see corporate investors team up with @THE_RanjitBajaj? ????????#IndianFootball #HeroIleague pic.twitter.com/Wxkhn6lFIF

— Superpower Football (@SuperpowerFb) July 19, 2019

"The selling is a very long process. It is not like buying vegetables. Forget the sale, we are yet to come on the same page," Bajaj added.

"In fact, I am open to any offers right now because, I will repeat, I have not received anything from them. I have been saying since the last three years that I am looking for partners, potential stakeholders. It is not a hidden fact."

"Although we are in constant touch since the last week and all we hear is that 'We (RoundGlass management) will decide internally and inform you and will sit for a meeting soon.'"

Further talking about the deal, the club owner made it clear that the NOC which several reports are talking about was obtained last week, way before RoundGlass came with the idea of a merger.

He further said, "We were supposed to have a meeting today (24th July) but we don't know whether it is going to happen or not. If it doesn't, then the deal is off, for sure."

RoundGlass Sports @RG1Sports is committed to nurturing football at the Grassroots Level at Aloona Tola , Punjab. #RoundGlass #RGSports #RGFootball #GrassrootsFootball #Football #CatchThemYoung #TrainThemYoung pic.twitter.com/FZZIdncSTP

— RoundGlass Sports (@RG1Sports) July 22, 2019

RoundGlass is a Seattle-based venture capital firm focusing on healthcare technology startups. They have doctor consultation platform Doctor Insta, weight-loss coaching and fitness app Obino, digital diabetes management programme Life in Control and Zoojoo.be, a startup that builds social wellness apps for corporate staffers on board.

[KH_RELATED_NEWS title="Related News"][/KH_RELATED_NEWS]

They have a few initiatives in Punjab in around 90 villages which includes building hockey and football academies and setting up proper waste management systems.

They have three football academies in Chandigarh, Ludhiana and Panchkula for girls and boys under the age of 14.