Indian Super League (ISL) on Tuesday a new club, called Hyderabad Football Club, to compete in the league's upcoming sixth season.
Vijay Madduri and Varun Tripuraneni are the owners of the Hyderabad FC.
Madduri said he is looking forward to playing a significant role in developing football in the state.
"I am thrilled and proud to be a co-owner of the club and I look forward to playing a significant role in developing football in the state, reviving its past glory. Sports has always been in my DNA and I am extremely happy to have a chance to contribute in this field," ISL's official website quoted Madduri as saying.
Meanwhile, Tripuraneni said that it is a proud moment for him to be the co-owner of Hyderabad FC.
"It is a proud moment for me, to be co-owner of Hyderabad FC. Hyderabad is a city with a great football culture. I look forward to working with key stakeholders and building a strong foundation for the club, which will eventually contribute to the society and do the city proud. Our immediate task is to prepare for the new season," Tripuraneni said.
The sixth season of ISL is scheduled to begin from October 20.
( With inputs from ANI )