After weeks of never ending speculation, East Bengal FC are now close to finalising Shree Cement as their investors after severing ties with Quess Corp. last month, as reported by Anandabazar Patrika.
The century old club should put pen to paper and announce the deal by 4th September to have a shot at entering the Indian Super League (ISL) in the 2020-21 season, The Bridge understands. As per sources close to the development, the paperwork between the club and the investors could be completed by Wednesday.
East Bengal have been in talks with a number of groups with hopes of playing in the ISL in the upcoming season. However, until now, none of them materialised and it seemed that the club’s and the fans’ dreams of featuring in the country’s top division would have to be postponed for at least one more season.
After arch-rivals Mohun Bagan merged with ISL outfit ATK FC to enter the ISL, everyone had expected that East Bengal would also follow suit with some help or the other. Over the weeks they reportedly held discussions with P & G, Red Chillies Entertainment, USEL, Hindustan Unilever and a host of other big corporates. For some reason or the other, the talks never went beyond talks.
When Prasun Mukherjee’s USEL backed out because East Bengal reportedly wouldn’t give up majority shares, the fans had lost almost all hopes. But there seems to be new light at the end of the tunnel. That being said, the clock is now ticking. East Bengal are famous for pulling off late winners and it seems, this might just be another one of them!