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Amongst much fanfare, East Bengal Club and Emami Group today signed their final investment agreement in Kolkata.
As the name of a sponsor cannot be used in the club name in the Indian Super League, the red and gold will play as East Bengal FC in the upcoming season of the Indian Super League.
Emami Group’s Aditya Agarwal said, “It’s a great honour to join hands with East Bengal. We (Emami Group) are based in Kolkata. I would say two giants of Kolkata are joining hands and I am sure and confident that this will be a huge success.”
“We pledge to develop the East Bengal club as one of the premium footballing brands in the country!”
The agreement saw the forming of a new joint venture company, named Emami East Bengal FC Private Limited. The new arrangement will have Emami Group enjoying 77% of share in the company while East Bengal club will hold the remaining 23%.
East Bengal official Debabrata ‘Nitu’ Sarkar said, “The board of directors will be set up in the same ratio with Emami Group having seven and East Bengal getting three members in the company.”
After months of uncertainty, East Bengal with the support of Emami will now prepare for their third season in the Indian Super League as the club are set to officially announce Stephen Constantine as their new head coach.
The club has signed a number of players on pre-contracts while trying to buy target players of rivals while also looking to finalise the foreigners for the season.
After the two unsuccessful investments in Quess Corps and Shree Cement, East Bengal Club will hope that they are third time lucky with Emami Group.
𝗘𝗺𝗮𝗺𝗶 𝗘𝗮𝘀𝘁 𝗕𝗲𝗻𝗴𝗮𝗹 𝗙𝗖! 🔴🟡#EastBengal club will hold 23% shares, while Emami will have 77℅ shares of the newly formed Emami East Bengal private limited company. The Board committee will consist of 3️⃣ members from East Bengal, and 7️⃣ members from Emami! 🤩🤝 pic.twitter.com/zWIl5jPg9a
— IFTWC (@IFTWC) August 2, 2022
