The investors are not happy with the club officials and are on the verge of pulling out from the deal.
Mohammedan SC are in the middle of a muddle with their new investors Bunkerhill Private Limited ahead of the I-League 2020-21 season.
The Black Panthers officially announced a partnership with the Gurgaon-based sports management company ahead of the I-League Qualifiers. Mohammedan SC then won that competition and gained promotion to the I-League. However, a rift has developed between the club officials and the investors.
Sources have told Khel Now that the club officials have not yet submitted the required paperwork to the investors to complete the final agreement. Both parties signed a Memorandum of Understanding (MoU) when the deal was officially announced back in October last year. But, even after these months, both parties have not managed to sign the final agreement and therefore, the investors are not happy with the situation.
“We had a long discussion before getting into the agreement and we thought it was an interesting project to work with such a big club. After speaking with the officials we were hopeful that we can work together and take the club to greater heights. We made the team in that way and won the I-League Qualifiers.
“We had aimed to win the I-League also. But, even after three months of signing the MoU, we have not received the paperwork for the final agreement,” Deepak Singh, one of the Directors of Bunkerhill told Khel Now.
“The club officials suddenly want to make changes to the terms and conditions, but that is not how we work. We had an agreement where both parties would work together in partnership. I thought the new officials are different and more professional, but it seems like the club still has that old influence. If the club does not respond within the next few days we will have no other choice but to break the deal,” he added.
The terms of the partnership saw both the parties hold 50% stake. However, now with things going downhill, Mohammedan SC are in dire straits and they only have a few days to sort things out with their investors. With the I-League starting from 9th January, it will be interesting to see how things turn out for the Black Panthers.