Mohun Bagan’s sponsorship deal with Streamcast set to be delayed

The Mariners have appointed globally renowed audit firm Deloitte to undertake full due diligence of their potential new sponsor.

Mohun Bagan have delayed the finalization of its deal with Streamcast to be its major sponsor, according to Club President Swapan Sadhan Bose. After an extensive executive committee meeting at the club on Thursday, it was decided that the Mariners would appoint Deloitte to go through the financial aspect of the deal before agreeing to it.

Deloitte is a UK based company, which specializes in auditing and is regarded as one of the best audit firms in the world right now. Deloitte have already been contacted by the club to see through the authenticity of the deal and make sure the financial aspects are all correct before Streamcast can become Bagan’s new sponsor.

Bose spoke about this deal after the meeting and said, “The sponsor which has been brought by Kalyan(Chaubey), we have heard about the sponsor’s proposal. That official proposal which has will be given by them, we will pass that onto Deloitte, which is one of the best audit firms in India. We have given Deloitte the opportunity of due-delligance to check the authenticity of the company.”

He continued, “It’s an American company we don’t know much about, but we want Deloitte to check whether or not they are fully trustworthy. Similarly, like they have also asked for the papers of our company, we’ll provide them with whatever is required.”

When asked whether or not they had already sent everything necessary to Deloitte, Bose stated, “The board has taken the decision to appoint Deloitte right now. They are one of the two best audit firms in the world right now and we want them to review everything about the sponsorship before going through with it.”

Bose further spoke about the proposal on whether all the details of the deal aka Streamcast giving 200 crore and the deal being closed are true. He said, “The proposal which has been given by them, Anjan Mitra stated that out. Everyone who tries to do the best for the club here, critizing them is not our job. For the Mohun Bagan posts there might be differences, as there will be an election and the members will bring whoever they want to. But that doesn’t take away our love for the club, which was displayed when we celebrated widely after East Bengal lost.”

Bose was also asked about his happiness at the chance of Mohun Bagan winning the Calcutta Football League title after almost eight years. He stated, “The delay which happened during the meeting today is because me and Anjan were both celebrating in happiness. We ate some samosas and sweets as a way of celebrating because of how delighted we were.”

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Despite being close friends, Bose was asked why he and Anjan Mitra didn’t both look for sponsors together rather than looking for different ones. He answered, “That’s actually great! It’s better for 10 people to look for sponsors rather than one entitiy. There’s no problems with this. We are also looking for sponsors ourselves and for the fans, I want to say that you’ve only seen the trailer for the movie till now.”

Mitra also spoke about the apparent delay of the deal and said, “Our club is going through a really difficult financial crisis. We have spoken to the investors about doing this as soon as possible. The investors had given us till 15th to sign the deal, but we everyone wanted to enquire about the company by looking through a chartered accountant. Our 10-year deal with our old sponsers were broken within 8 years of the deal, so we wanted Deloitte to look through so as to something similar doesn’t happen this time.”

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It looks like this deal is going to take some-time for the Mariners as there are still some inspectations and thing to be agreed upon. While it was revealed on Wednesday that the cash-rich sponsors in Streamcast would give Bagan ₹200 crores in 10 years (plus ₹150 crore from the Kapoor Family), it seems like nothing has been officially signed yet.

Deloitte will take its time to go through a full inspection on the authenticity of Streamcast and this deal could be delayed till next month or more. While there’s always a chance of an official agreement being announced, it seems like the club is taking things slow and steady to make sure the deal goes through smoothly and does not have any consequences in the future.