East Bengal has got a shot in the arm in its bid to get an Indian Super League berth. The Kolkata giants have been successful in sealing an investment deal with Shree Cement.
East Bengal announced on Wednesday that it has roped in a new investor in Shree Cement. The arrival of the new investor will solve the club’s financial struggles and boost East Bengal’s chances of playing in the top division of Indian football.
The next on the cards is expected to be an announcement to bid to join the Indian Super League pool. The All India Football Federation will have little concern in roping in the century-old club for the elite professional club competition in the country.
East Bengal and Shree Cement made the announcement at the State Government headquarters, Nabanna, in the presence of West Bengal chief minister Mamata Banerjee.
Shree Cement will reportedly own 75-85% percent of the stake at East Bengal and the rest will stay with the club.
Like East Bengal, Shree Cement brand has strong ties with the City of Joy. The company is owned by the Kolkata-based renowned business house Bangur Group.
“This association with the cement company will be strong enough. All our success in the 100th year will be dedicated to Mamata Banerjee,” said East Bengal general secretary Kalyan Majumdar.
East Bengal will now make a formal request to the organisers of the ISL, Football Sports Development Limited (FSDL) and the All India Football Federation (AIFF), to let them participate in the league.
The ISL will be a closed-door affair this year East Bengal have been in talks with a number of corporates with hopes of playing in the ISL in the upcoming season.
East Bengal have been in talks with a number of corporates with hopes of playing in the ISL in the upcoming season. It finally succeeded in cracking the deal with the Benu Gopal Bangur-owned business hub.