Tendulkar won the right to own the Kochi franchise in partnership with the Prasad V Potluri of PVP Ventures.
Ranbir Kapoor, Salman Khan and John Abraham bag three other franchises.
The Malayalee Football Fans Association have a campaign for Tendulkar bidding for Kochi.
Mumbai has decided against bidding in forthcoming football Indian Super League.
Both Sourav Ganguly and Shahrukh Khan are said to be interested in the Kolkata franchise.