All You Need To Know: RoundGlass Sports acquires Punjab FC

The new owners of the I-League outfit announced the completion of the deal last weekend.

RoundGlass Sports have acquired a 100% stake in Punjab FC after having previously bought a 50% stake prior to the beginning of last season. The new owners announced the completion of the deal during the weekend and revealed that the organization will now operate and manage all existing Punjab FC teams, including the senior side that plays in the I-League.

Before the start of last season, RoundGlass had acquired 50% of the club’s stake from owner Ranjit Bajaj and the team had officially been renamed Punjab FC. Bajaj posted an emotional message about the takeover on social media.

The RoundGlass Sports Academy will train and field multiple teams under Punjab FC in several age groups, starting from U-7 bracket to the senior side, that will play the I-League. According to the new owners, the academy will be located in Punjab.

Minerva Punjab, the club’s erstwhile identity, won everything they participated in except the Indian Super Cup. The club came into existence in 2013 and won the Chandigarh State League in 2015 to qualify for the I-League 2nd division. At their first attempt, they finished second on the table, qualifying for the I-League. In only their second season in the then top flight, the club won the league in 2017.

The club won the U-13 I-League in 2017 and completed a hat-trick of U-16 I-League victories in 2018. They also lifted the U-18 Elite League title in 2018. In recent years, Minerva Punjab had been one of the most successful clubs in Indian football, making their presence felt at all levels of the football ecosystem.

Meanwhile, the Minerva Academy remains of Ranjit Bajaj’s control and will continue to groom youth players. Bajaj is also expected to field youth sides at several state/national level tournaments for the foreseeable future.

RoundGlass Sports is a platform that trains young players in football and hockey in Punjab. With the new acquisition, Punjab FC will be further strengthened and invigorated.

"RoundGlass Sports will build Punjab Football Club by creating an unparalleled, best-in-class academy rooted in the philosophy of holistic wellbeing. This commitment and investment will identify, nurture, and produce talented players capable of achieving success at the international level," Gurpreet Singh, founder, RoundGlass said.

"We aim to create positive outcomes for society, in terms of health and productivity of entire communities. I have long believed in the power and potential of Punjabi talent and look forward to empowering the community with the RoundGlass Sports Academy to create an exciting, credible and inspiring new chapter for Indian football," he added.

Ranjit Bajaj, former co-owner of Punjab FC said, "I am proud of the work we have done and results we have achieved with the club. It will be exciting to see RoundGlass Sports take the club to the next level and set new standards for football in India and beyond."

Punjab FC currently stand third position in the I-League table with 23 points from 16 games. Mohun Bagan have won the title with four rounds yet to be played. Most footballing activities around the globe have been stopped due to the outbreak of COVID-19.