MUMBAI: East Bengal FC, one of the “Big 2” legacy clubs of Indian football, has FINALLY found an investor in Kolkata-based Shree Cement, which would be taking an 80% (or thereabouts) stake in the storied institution on its 100th anniversary.
SportzPower’s first reactions to the welcome development was this. The agreement had two key welcome parallels to the deal struck earlier by the other “Big 2” legacy club (and bitter rival) Mohun Bagan. The first was that the controlling stakeholders of both clubs were Kolkata-based (RP-Sanjiv Goenka Group in the case of Mohun Bagan and the afore mentioned Shree Cement in the case of East Bengal). The second was that both companies had taken an 80% stake in the clubs they invested in.
That was the first reaction. The first question that came to mind regarding Shree Cement’s investment in East Bengal was this. Could the entrenched and politically connected Old Guard put a spanner in the works at some point when (not if it needs noting) the urge to assert influence over the club’s affairs surfaced? After all, this was something that Bengaluru-based “outsider” investor Quess Corp had to deal with (with no success) from early on in its “owner innings” at East Bengal.
On the entrenched part, SportzPower reckons the Old Guard would be skating on seriously thin ice if they were to try anything similar this time round. Why? Because the the club’s long suffering members have had enough of the wheeling and dealing, more considering the fact that it has not broght results on the pitch. East Bengal last won the National Football League (now called the I-League) in the 2003–04 season.
As for political connections, for one Shree Cement has the full backing of West Bengal chief minister Mamata Banerjee. For another, being a local outfit, it will have a full comprehension of the political dynamics and will be more than capable of playing the political card if the need arises.
To cut to the chase, SportzPower believes that if Shree Cement has the clarity of vision (and the willingness to finance that vision) on how it wants to drive East Bengal to the top in India football, it knows exactly how to deal with any disgruntled elements that may pop up out of the woodwork. Something that Quess Corp, despite being well intentioned at the start did not have in its arsenal.
