ISL 2021-22 – East Bengal’s Season in Trouble? For East Bengal SC & its investors, Monday was the last day of furnishing the bank guarantee of a whopping 180 crores to the Football Sports Development Limited(FSDL) to secure their participation in ISL 2021-21. But despite the final deadline, East Bengal Club officials and the investor Shree Cement failed to resolve their differences.
InsideSport.co reached out to both East Bengal and Shree Cement for their replies on the deadlock which has put a huge question mark over club’s participation in the ISL this year.
Though Shree Cement refused to reply on the matter, East Bengal secretary Kalyan Majumdar bluntly declared that no matter what agreement in current shape will not be signed with the investor,” No. We are not going to sign the contract.”
When prodded further, that this tussle may dent club’s chances to participate in ISL, Majumdar was more aggressive in his reply. “we don’t have anything to do. We don’t have the football rights. You have to ask Shree Cement. They need to decide what they want to do.”
ISL 2021-22 – East Bengal’s Season in Trouble? Where exactly are the things stuck?
SC East Bengal’s fate is hanging by a thread as both the club officials and Shree Cement have failed to reach an amicable solution in the last few weeks. Both the investor and officials are sparring in open on the contract which still has not been signed.
The investor Shree Cement feels that once the term sheet was agreed and signed, there should be no reason to hold up the contract signing. On the other hand, club officials feel that some of the terms in the contract draft are contrary to the earlier understanding.
Meanwhile the promoters of ISL – FSDL had set a deadline of Monday to submit the BG of 180 Cr – which the investors are not ready to release without the completion of contract signing formalities.
Not only this – the club is yet to begin signing players for the new season. With each passing day, it will be difficult for the club to bring in quality players as most of the players have either extended their contract or have been signed by a new club.
This delay has further enraged the EB Club Officials.
“Why are they waiting to sign the players? Majumdar raised a question.
“They have all the amenities and the rights to make the team. Anyway, if this happens the East Bengal club will not have any problem in forming a good team.”
ISL 2021-22 – East Bengal’s Season in Trouble? How will the deadlock break?
The only way club officials & investors deadlock can break is if one party budge from their stand or if the forces in power intervene.
The Chief Minister Mamta Banerjee was instrumental in bringing in Shree Cement on board last season. InsideSport.co asked Majumdar, will once again the CM office be approached?
“No, we don’t have any such plans for now.”
There are also talks of the investor surrendering the sporting rights back to East Bengal but only after 50 crores is repaid to them which was spent on expenses of the last season.
In the investor-club officials feud, with each passing day – the chances of East Bengal playing this ISL season this year is getting very bleak.