Quess Corp Limited parted ways with the Red and Gold on May 31, 2020.
The All India Football Federation has asked East Bengal to let the governing body know about the alteration in ownership of the club. For the uninitiated, Quess Corp Limited has terminated their contract with the Kolkata-based giants with effect from May 31, 2020.
In the wake of the COVID-19 pandemic, the investors decided to conclude their association with the club and now the AIFF is seeking clarification from East Bengal regarding the same. One of the top officials from the federation spoke to IANS about this. He remarked, “We have asked them to officially tell us about the change in ownership. This is in line with the (AFC club) licensing requirements.”
To apply for an AFC license, a club has to properly state their control mechanism and ownership structure in a legally valid declaration. It is one of the criteria put out by the AFC and the AIFF looks to be aiding East Bengal to ensure that they do not refrain from completing any legitimate formalities.
The collaboration between East Bengal and Quess lasted for a couple of seasons. They had obtained 70% stakes in the club in July 2018. This resulted in the formation of a new entity altogether, which was to be referred to as Quess East Bengal FC Pvt Ltd.
With the Bengaluru-based company’s withdrawal from the alliance, they are reportedly preparing to transfer the sporting rights back to East Bengal too. Regardless of these happenings, the club has been adamant in going for a complete squad overhaul in the transfer window. They have roped in players aplenty and are looking to set up a formidable squad to challenge for the I-League title in the upcoming season.
East Bengal had a rather underwhelming campaign in 2019-20, where they finished the season in the second spot in the league table. However, they were 16 points behind arch-rivals Mohun Bagan, who cruised their way to the title.