East Bengal

East Bengal will not sign a final agreement with investors

The club’s general secretary said they wouldn’t sign the agreement where the members would lose their fundamental rights.
East Bengal club management on Friday decided not to sign the final agreement with investor Shree Cement Limited. Also, it is further deepening the ongoing crisis over transferring of sporting rights.

The decision was taken at an emergency meeting where 24 executive members signed a statement that could jeopardize their participation in the top-tier Indian Super League (ISL).

“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,” East Bengal general secretary Kalyan Majumdar said in a statement.

Calcutta Football League pullout may relegate SC East Bengal, says Indian  Football Association-Sports News , Firstpost

The meeting was held amid protests by club supporters outside the tent. Also, there they shouted slogans and called for West Bengal Chief Minister Mamata Banerjee’s intervention.

Also, in the last year, former investor Quess Corp left the club. After that, East Bengal made a last-minute foray into the ISL. It happened after SCL came on board with the intervention of State Chief Minister Mamata Banerjee.

Current situation for East Bnegal to play in ISL

Having acquired a stake of 76 percent, the cement giant signed a term sheet with the club in September last year. Also, the red-and-gold’s sporting rights as well as all of its assets and properties (including intellectual) were reportedly transferred to the newly-formed consortium.

But a final binding agreement of the deal is yet to be signed by the club management, leading to the logjam.
Thousands of fans are now protesting against the club management. Also, their main concern is their beloved club did not win a single national trophy since 2004.

Also read, ISL: Carl McHugh to stay at Mohun Bagan till 2022

On the other hand, their arc rival is continuously involved in making huge signings. Mohun Bagan has signed Hugo Bumous in a 5 years deal. They are building a strong team to win ISL. East Bengal is in trouble of playing ISL. Without investor and bank security, they are not able to participate in ISL.

East Bengal v ATK Mohun Bagan Match Report, 27/11/20, Indian Super League |  Goal.com

Also, even they will not play Calcutta Football league as well. Their sporting rights are now in the hand of Shree Cement. Shree Cement executive told that ” We will give the sporting rights back to the club. We only need the money-back which was invested the previous year. The amount is nearly 55 crore.”

Without Mohun Bagan- East Bengal Indian football will be less interesting. Although standing from the current situation it’s very hard to see East Bengal in the upcoming ISL. Also, we all know that miracles can happen anytime. Let’s hope for the best.

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