As reported by multiple news outlets, East Bengal club received the 'amended' final agreement from principle investors Shree Cement yesterday. Club officials have confirmed that the documents have now been sent to their lawyers with a response expected soon.
It has emerged that Shree Cement have toned down on a few of their demands in the latest version of the final agreement. Reportedly, they have agreed to reduce their access to the club tent, one of the most contentious clauses which both parties were fighting about.
The clause about membership rights may also undergo a few changes with both parties now working towards a common middle ground. However, what would give the fans hope is the fact that there have been multiple meetings between the two parties and it seems like, after months of agitation, the issue is finally going to be resolved.
For the uninitiated, the main dispute between Shree Cement and the legacy club officials was regarding the 'autocracy' that few of the clauses in the final agreement seemed to provide the investors with when it came to decision-making and membership rights.
Officials had also claimed that many of the clauses in the final agreement had been modified to suit the investors needs, and as such were drastically different from the clauses agreed upon in the Term Sheet signed in September last year. It remains to be seen if the 134-page draft agreement meets their expectations or if there are further roadblocks.