Khel Now unearths shocking revelation on future of East Bengal

Officials of the century-old club are yet to sign on the contract with investors Shree Cement to formalize their association.

After a disappointing debut Indian Super League (ISL) season, SC East Bengal is facing a wave of uncertainty over its future. It’s not about the performance or the player recruitment, but it’s the current stalemate within the club between investors Shree Cement and East Bengal officials.

Even after forming an association last year, the East Bengal club officials have been dragging their feet in signing the final agreement with Shree Cement to permanently tie their relations. Khel Now, in its conversation with sources close to the development, understands that the uncertainly looms large on the face of the club officials and East Bengal, with its fans could turn out to be collateral damage.

What has happened till now?

The investors want a final agreement signed to move into the preparation for ISL 2021-22 season.  The final agreement is based on the initial term sheet signed in 2020 – which enabled East Bengal to play in the ISL. However, since the previous eight months, the club officials have adopted a number of means and measures to delay the signing - without pointing out a specific clause in the agreement.

In their previous media statements, the officials have clarified that they are not comfortable with the clauses mentioned in the final term sheet and do not believe those are beneficial to the club’s future. However, the common knowledge dictates that the final agreement is based on the term sheet, which they had earlier read, agreed and signed in a public event in the presence of Chief Minister of West Bengal, Smt. Mamata Banerjee. 

Shree Cement, on the other hand, have also been adamant in refusing to negotiate any further from what’s the essence of the signed term sheet. As investors, they want the final agreement signed - upon completion of which, they would infuse more funds in the club.

On May 31, the deadline of signing the agreement, Head of Operations at SC East Bengal, Pratham Basu bid farewell to the club in an emotional social media post, indicating contracts of all employee and players have come to an end.

On June 1, following an Executive Committee meeting, Football Secretary of East Bengal, Saikat Ganguly announced that the officials will not sign the final agreement as it is. He also added that if forced, all members will resign under pressure.

The stand of the officials was met with another salvo from Shree Cement by late evening on the same day, when the Shree Cement had halted all social media activity until further notice.

What will happen to East Bengal?

In case of the final agreement is not signed and Shree Cement decides to move away, East Bengal on its own, will not be able to gain participation entry in the ISL next season. Even if the club officials find a new sponsor, the FSDL will not allow an abrupt entry for the second time to the club. 

“Shree Cement made an agreement with FSDL for East Bengal’s participation into the ISL as SC East Bengal club. It’s the investors, not the individual East Bengal club identity, who has an legal rights with the league organisers,” an official close to the development revealed to Khel Now.

“Let’s say, hypothetically EB brings in a new sponsor on board, that itself doesn’t guarantee their participation in ISL. Firstly, the club has lost credibility and trust in the market, and no corporate would wish to associate with an unprofessional set up.

“Secondly, say magically if it happens, why would FSDL give special treatment to East Bengal for a second time? In legal terms, FSDL will recognise East Bengal through Shree Cement only. In fact, interestingly, because Shree Cement has the legal rights with FSDL of ISL participation, its actually the investor who could bring an another club on board and field a team,” the source further explained.

Another source tracking the development also confirmed that Shree Cement has the rights with FSDL with a legal agreement and bank guarantee for a certain number of years. In a way, FSDL is also legally bound to honour the agreement with Shree Cement recognizing the entity they bring in.

As it stands, East Bengal’s future in the Indian Super League is in grave danger. Unless a mutual understanding can be reached between Shree Cement and the club officials, the Red & Gold Brigade will not be able to play in the ISL – which could also be a huge blow to the Indian football as a whole.

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