ISL 2021: East Bengal won’t be playing in ISL 2021 as investor Shree Cement Limited has parted ways with the Kolkata football giant club.
In an email to the West Bengal Chief Minister Mamata Banerjee, the cement manufacturer has written that they will be returning the sporting rights to the club.
ISL 2021: “They let me know at the very last moment they won’t be able to continue the partnership. We are all disappointed and a bit irritated,” Mamata said during a press conference.
“They met me a few days ago and said everything will be sorted out by the 16th. Then what could have possibly gone wrong that they decided to back out suddenly?” she questioned.
ISL 2021: The Chief Minister minced no words and termed the development as ‘disappointed and said she was “irritated” at the last-minute pullout.
“We all want clubs like Mohun Bagan, East Bengal and Mohammedan Sporting to play in the ISL. I am very happy that Mohun Bagan (ATKMB) is still playing in the ISL. We should all support EB during a difficult time like this,” she said.
East Bengal top executive official Nitu Sarkar however said they are yet to receive the letter of disassociation from SCL.
“We are yet to receive the letter, so can not comment at this point of time. But we are hopeful to play ISL,” Sarkar told PTI.
ISL 2021: The club management had signed an initial term sheet in September last year as the porting rights as well all its assets and properties (including intellectual) were reportedly transferred to the newly formed joint venture “SC East Bengal”.
It had paved their dramatic entry into ISL last season where the Robbie Fowler-coached side had a pathetic ninth-place finish with nine losses, eight draws and just three wins.
But trouble brewed in the build-up to the upcoming season as the HM Bangur-owned SCL refused to “spend a penny” on team-building unless the final agreement was signed.
ISL 2021: East Bengal club executive committee had decided not to sign the final agreement claiming discrepancies in the initial term. Shree Cement had already sent a revised version of the final agreement to the club as well as to the West Bengal Chief Minister on August 16. But the club management upon legal consultation remained adamant and SCL decided to end the deal.
ISL 2021: The primary contention between the two parties is regarding the final term sheet. East Bengal club officials were to sign the final term sheet and hand over 76% of the club’s shares to Shree Cements. However, officials claim that there are several discrepancies in the final term sheet and refused to sign it.