Streamcast pledged to provide ₹200 crore over 10 years- Mohun Bagan club secretary Anjan Mitra

Published at :September 5, 2018 at 5:04 PM

Modified at :September 5, 2018 at 5:04 PM

The outfit will be looking to challenge rivals East Bengal who recently signed a mega deal with Quess Corporation.

It has been announced that I-Leeague giants Mohun Bagan are in talks with technology-based firm, Streamcast Group to join the club as investors. The company has its bases in the USA, Europe, Middle-East, Asia and in Mumbai. The group will be co-investing with Bollywood's famous Kapoor family. It has also been revealed that Arman Jain and Adar Jain will also be shareholders if the deal goes through.

The information was conveyed to the media by club secretary Anjan Mitra at a press conference at the Mohun Bagan club tent earlier today. Mitra revealed the name of the sponsor and claimed that talks have been going on for quite some time.

"The company, Streamcast is in final talks with the club and they are demanding 74% of the club shares and in return, they have pledged to provide ₹200 crore fund over 10 years and a further sum of ₹150 crore will be arranged by the sponsors themselves," said Mitra.

Despite calling the press and unveiling the name of the potential sponsor, it is understood that talks are still in their final stage and not done yet. So, there is still a sense of uncertainty. Mitra also added," If the deal goes through the players will have no uncertainty over their salary which is going around for a few months."

He continued, "Despite holding talks with the company the club name will remain the same and there will be no mention of the company in our club title".

On being asked whether the deal was made keeping a possible place in the Indian Super League in mind Mitra said, "We are surely looking ahead to play in the ISL. The bidding for the ISL opens on November 15th and Mohun Bagan Athletic Club will hold the bidding process backed by our sponsors," Mitra also confirmed that he will hold more executive meetings in the near future and said thedeal could be confirmed as early as 9th September.

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Mitra claimed that the papers are ready, but that they have not been transferred to the company and once they are transferred the deal will go through. Football Secretary Swapan Banerjee also added that the club is eager to match arch-rivals East Bengal and bid for the ISL this November.

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The company also invests in other activities and has made an investment of €75m with the Government of Malta to open an International Movie Studio. They also investment ₹2200 crore at Sindhugarh in Maharashtra for organising a data centre. The company will also organize an International Film Festival in Malta. Mitra also mentioned the website where fans can look for more information about the company. (www.scst.tech).

When quizzed about whether this is a masterstroke just before the club elections Mitra said, said, "I in my 20 years have always reached out for the welfare of the club. The election is a different issue, but I care about the club and during the election, we may have two parties, but after election, we are again one, Mohun Bagan Athletic Club."