MUMBAI: Chennai City FC are all set to announce a major investment from Swiss club FC Basel into the current I-League table-toppers, The Fan Garage reports.
While TFG reports that FC Basel, a club with a history of 125 years and the second most successful club in the Alpine country’s top division Swiss Super League with 20 titles, is taking a majority stake in Chennai City FC, according to Times of India, it is only 35%.
As for the deal value, while TFG has put it at €15 million, TOI has pegged it higher at $20 million.
For SportzPower, the more likely scenario here is that the Swiss club is taking a majority stake and therefore will become controlling stakeholders in the enterprise. As per this website’s assessment, FC Basel is taking a 65% majority stake in CCFC, which would give the club an enterprise valuation of Rs 1.892 billion.
Whatever be the final numbers, the cash infusion will allow the club to double its efforts in building infrastructure in Chennai, which includes a potential stadium of its own, and a year-long grassroots programme spread all over the state of Tamil Nadu.
The large investment also opens the possibility of Chennai City FC bidding for a place in the Indian Super League; but all that will of course depend on the approach taken by FC Basel.
Club sources have also confirmed to TFG that there will be an intensive player exchange programme implemented between Chennai City FC and FC Basel, with the best CCFC player of each season getting a trial with the Swiss Super League outfit. FC Basel will also lend coaching staff and other facilities to Chennai City FC. On their part, CCFC will also accommodate FC Basel in all their endeavours, including pre-match practices, and other operations including scouting. There is a good chance budding talents from FC Basel might be sent to Chennai City FC to gather experience, and the two clubs will play pre-season friendlies among themselves, from the junior teams to the senior squads.
The youth development network of Chennai City FC may also get a boost with the top talents from the academy being sent to Switzerland for training and exposure, TFG reports.
The large investment also guarantees that FC Basel’s relationship with Chennai City, their approach to developing the club and their contributions to Indian football will be long term.
According to both TOI and TFG, several details of the deal will be revealed on Wednesday in New Delhi at a press conference that will be attended by FC Basel president Bernhard Burgener and CEO Roland Heri. Senior AIFF officials including president Praful Patel and general secretary Kushal Das are also expected to be present at the event.
