East Bengal’s Future Participation In ISL Looks Uncertain

East Bengal’s committee have decided not to sign the final agreement between the club and their major investor Shree Cement. 

This can result in members losing their fundamental rights, said Kalyan Majumdar, the club’s General Secretary.

“We will not sign the agreement where the members will lose their fundamental rights, where the club will be permanently handed over and we will lose the right over ground, logo, tent,” quoted Mr. Kalyan.

This decision was taken on Friday, at an emergency meeting between the executive members of East Bengal club. ‘The difference between initial and final term sheet’ remains the reason why the members are not signing the agreement.

What’s the problem in the deal?

Things are not getting any better in the joint venture between the club and Shree Cement. All this started after Quess Corp parted ways with East Bengal in June 2020. After that the club was in serious need of an investor who would help them to facilitate their move to their maiden ISL season. The Chief Minister of West Bengal Mamata Banerjee played a major role in helping the club find investors. With her help, Shree Cement came on board in September 2020.

The term sheet of the agreement mentioned that all the sporting rights, assets and properties of the club will be transferred to the name of the joint venture between East Bengal and Shree Cement, as Shree Cement reportedly held 76% stakes.

The initial term sheet has been signed, but now while signing the final binding agreement, the executive members found differences between initial and final term sheet, which were not in their favour. The investors claimed otherwise.

After Friday’s meeting, the Executive Committee of East Bengal Club said in a press release, “Under the leadership of the club president (Dr. Pranob Dasgupta), the Executive Committee has decided not to sign the final agreement which will force us to transfer the ownership, club ground, club tent, logo and the name of the club to the investors. The final agreement is insulting to the club members and they curtail the rights of the members”.

In the club’s maiden year under coach Robbie Fowler in the Indian Super League, East Bengal managed to come home with a 9th place in the league table.

A dark cloud looms above the East Bengal tent as this decision might jeopardize their chances of playing in the Indian Super League.

 

For Trial related updates: Latest trials updates in Mumbai Football

Also Read: Glan Martins commits to FC Goa with new long-term deal

Follow us on FacebookTwitter, and Instagram for all the latest happenings in the world of Indian football

Oscar SSE to conduct trials for Youth Teams

Mumbai based Oscar SSE will conduct trials for their youth teams on 12th December 2021 at Wings Sports Centre ground. Oscar SSE is a 2-star AIFF Accredited Academy plying their…

Share

BBFS set to conduct trials for Residential Academy

Bhaichung Bhutia Football Schools Residential Academy are set to conduct trials for the 2022-23 season. Players born between 2005-2012 are eligible to take part. The trials will start from 14th…

Share

Kenkre FC to conduct trials for their Youth team starting November 15

Mumbai based I league 2nd division outfit – Kenkre FC, will be conducting trials for their youth teams starting November 15th Kenkre FC had an excellent I league qualifiers campaign…

Share

DK Pharma FC to conduct trials for MFA Elite Division

Mumbai Football Association Elite Division side D.K.Pharma FC will be conducting trials for their upcoming 2021-22 campaign. Having gradually come up in the Mumbai Football Pyramid, Badlapur based DK Pharma…

Share

Lemon Break Sports FC to conduct trials for MFA 1st Division campaign

Lemon Break Sports FC is conducting trials for its first division side that will be playing in the MFA league for the upcoming season. Lemon Break SC is one of…

Share

Kenkre FC to conduct trials for Senior Women’s Team

Mumbai-based Kenkre FC are slated to conduct trials for their Senior Women’s Football Team on the 9th of October at Neville Dsouza Ground, Bandra. Kenkre FC have long been regarded…

Share

NLWS FC to hold trials for MDFA 3rd division

NLWS FC, a club based out of Dadar that will be playing in the MDFA 3rd division for the 2021-22 season will be holding trials next Sunday (10th October) Mauli…

Share

Income Tax Football team to conduct trials for Elite Division Campaign

MDFA Elite Division side Income Tax Football team will be conducting trials for ‘Guest Players’ for its upcoming 2021-22 season. The team is now looking to rope in few ‘guest…

Share

Oscar SSE to conduct trials for U 14 and U 16 category in Mumbai

Mumbai based Oscar SSE will conduct trials for their youth teams on 2nd and 3rd October at Wings Sports Centre ground. Oscar SSE is a 2-star AIFF Accredited Academy plying…

Share

Footie First to conduct trials for MFA 2nd Division team

Footie first will be conducting trials for its first team which will play in the MFA 2nd Division 2021-22 season. While the club has definitely set standards by winning the…

Share