East Bengal membership administration on Friday determined to not signal the ultimate settlement with investor Shree Cement Restricted, additional deepening the continuing disaster over transferring of sporting rights.
The choice was taken at an emergency assembly the place 24 government members signed a press release that might jeopardise their participation within the top-tier Indian Tremendous League (ISL).
“We won’t signal the settlement the place the members will lose their basic rights, the place the membership might be completely handed over and we are going to lose the best over floor, brand, tent,” East Bengal basic secretary Kalyan Majumdar mentioned in a press release.
The assembly was held amid protests by membership supporters exterior the tent the place they shouted slogans and known 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 large signed a time period sheet with the membership in September final yr because the red-and-gold’s sporting rights in addition to all of its belongings and properties (together with mental) have been reportedly transferred to the newly-formed consortium.
However a remaining binding settlement of the deal is but to be signed by the membership administration, resulting in the logjam.