East Bengal will ‘not sign final agreement will investors’

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East Bengal membership administration on Friday determined to not sign the final agreement with investor Shree Cement Limited, additional deepening the continuing disaster over transferring of sporting rights.

The resolution was taken at an emergent assembly the place 24 govt members signed in a press release that would jeopardise their participation within the top-tier Indian Super League.

“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 basic secretary Kalyan Majumdar stated in a press release.

The assembly was held amid protest by the membership supporters exterior the tent the place they shouted slogans and referred to as for West Bengal chief minister Mamata Banerjee’s intervention.

Following the exit of former investor Quess Corp final yr, East Bengal made a final minute foray into the ISL after SCL got here on board by the intervention of state chief minister Mamata Banerjee.

Having acquired a stake of 76 per cent, the cement giants signed a time period sheet with the membership in September final yr because the red-and-gold’s sporting rights in addition to all its property and properties (together with mental) have been reportedly transferred to the newly-formed consortium.

But a final binding agreement of the deal is but to be signed by the membership administration, resulting in the logjam.

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