Report: Chennai City set to buy majority stake in Chennaiyin FC

The former I-League champions are planning to enter the Indian Super League from the 2021-22 season.

Former I-League champions Chennai City FC are planning to buy the majority stake at ISL outfit Chennaiyin FC and enter the Indian Super League from the 2021-22 season, reports TOI.

According to the report, Chennai City FC are in line to secure a €20 million funding from their European Investors and have taken the first step in quest to enter the Indian Super League. Swiss giants FC Basel, who also owns 26% shares of Chennai City FC, helped the club in securing the funding.

Chennai City FC are likely to make the official decision on takeover by end of 2020 or early 2021. The deal is not expected to be a merger as CCFC management are in line to take over Chennaiyin FC, ensuring a smooth transition to the top tier of the Indian football. However, the name which will be used by the side to play in the Indian Super League next season is not decided yet.

Chennai City FC might also to pull out of the upcoming I-League season because of the lack of proper broadcasting facilities and limited sponsors - which would force the club to lose money.

With a very little time remaining and paperwork to be sorted out for the ISL, All India Football Federation (AIFF) might force them to play the upcoming season of I-league. The Chennai City FC management are currently busy fulfilling the club licensing criteria.

Earlier this week, Chennai City FC parted ways with Singaporean head coach Akbar Nawas on mutual consent. The tactician had helped the club win their maiden I-League title in the 2018-19 season. Should the club decide to play the upcoming edition of I-League, assistant coach Satyasagara is expected to be named the head coach of the club.

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