East Bengal rope in Shree Cement as New investors 

After much speculation concerning the investor front, Kolkata giants East Bengal FC have finally managed to rope in Shree Cement company as major stake holders of the club after their sour partnership with Bengaluru based Quess Corp hit the dead-end early this July.The acquisition of EBFC comes after West Bengal Chief Minister Mamata Banerjee took things into her own hands helping the club pitch Shree Cement company as their new investor. She said to have played a key role in assisting the club clear their financial hurdles after struggling to make ends meet.

The Kolkata based cement company with an annual turnover of Rs.12,000 crore in FY’20 will pickup a major stake of 76% in the club. CEO of Shree Cement HM.Bangur commented on the joint venture as he said “Yes, we have signed papers expressing our intent to acquire the East BengalFootball Club. Other legal formalities will now follow”.The hierarchy at EBFC are hoping to make a dramatic late entry into the upcoming ISL seasonwhere the major decision lies on the hands of the AIFF officials after they had spoken to Mamata Banerjee regarding the club’s entry into India’s premier football competition.”East Bengal will play this year’s ISL and all formalities are expected to be over by that time”,Bangor added when asked on the odds of EBFC making the cut into the ISL.While the club’s logo and its colors will be retained, the 100 year old club will look to make a memorable debut into the ISL along with their Bengal counterpart and arch-rivals ATK MohunBagan this season which is set to elevate Indian football scene to a while new level.

Written by, Pragathis Kumar

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