MUMBAI: Here we go again. Indications to that effect have been “blowin in the wind” for a while now, but what is currently playing out for SC East Bengal’s new investors Shree Cement appears to be a rewind of what happened with Quess Corp, the club’s earlier investor for two seasons.
Resistence from the men who make up the executive committee of the once hallowed club to handing over the reins of power is now out in the open.
East Bengal’s football secretary Saikat Ganguly, in a statement issued after a meeting Tuesday, informed that the the club’s executive committee “in unison” has decided not to sign the final binding agreement with Shree Cement and if they are pressurised to do so then the entire committee will resign.
For the record, it was June 2020 that Shree Cement came on board as the club’s new investors, establishing a joint venture named Shree Cement East Bengal Foundation, in which the cement giants held 76% stakes while the club had 24%.
After Shree Cement’s arrival, a term sheet was signed by both parties in September 2020 in the presence of West Bengal Chief Minister Mamata Banerjee who had played an important role in bringing the company on board as the club’s new investor.
Based on the term sheet, the club’s sporting rights as well all its assets and properties (including intellectual) were reportedly transferred to the newly formed joint venture between the two parties.
Here’s the catch. Even though the term sheet has been signed, a final binding agreement of the deal is yet to signed by club officials despite multiple reminders.
9 EB players move AIFF player status committee
Meanwhile, while these sorry power games are being played out, nine SC East Bengal players have moved the player status committee (PSC) of the All India Football Federation (AIFF), complaining of non-payment of salary for the last few months, Telegraph India reports.
Most of the players’ contracts ended on Monday, except that of Balwant Singh, who had signed a two-year deal, the daily further reports.
If the players win their case, then liabilities will keep piling for the club irrespective of whether investor Shree Cement stays on board or not. The club already has to shell out tens of millions after Indian players of Quess East Bengal approached the PSC regarding payment irregularities and got a verdict in their favour. A transfer ban was imposed but later revoked following an appeal by SC East Bengal. The two-window transfer ban came for non-payment of salaries to footballers like Pintu Mahata, Gurwinder Singh, Abhas Thapa and Rakshit Dagar.
