Friday , March 29 2024

Shree Cement returns sporting rights to East Bengal Club!

The tumultuous relationship of Shree Cement and East Bengal Club is history as the company have terminated their long-term contract and returned the sporting rights to the club.

This throws up questions on if East Bengal Club will be able to participate in the 2022/23 Indian Super League, while it is public knowledge that East Bengal are speaking to different entities to try and seal a new partnership with a corporate entity.

The partnership, which was announced ahead of the 2020/21 ISL season on September 2, 2020, was ‘terminated’ by Shree Cement after the East Bengal Club officials refused to sign the binding final agreement that would secure the agreement between the two.

“Shree Cement Limited (SCL) has now decided to terminate its sporting collaboration… Pursuant to the termination the Club shall transfer its entire shares held in SCEBF (SC East Bengal Foundation) at book value to SCL and simultaneously SCEBF also agrees to handover all the sporting rights to the club…,” Shree Cement said in a letter addressed to the East Bengal Club president on Tuesday, April 12 while ending its ‘obligations’ towards the club with immediate effect.

“They (East Bengal club) did not sign the final agreement as per the initial term sheet. Hence the association had to be finally ended after two seasons,” said the SC East Bengal CEO Shibaji Samaddar.

Shree Cement came to East Bengal’s aid following the intervention from West Bengal chief minister Mamata Banerjee, who had urged the cement behemoth to financially support the 100-year-old club’s bid to participate in the ISL in 2020, while doing the same ahead of the 2021/22 ISL season.

About Arunava Chaudhuri

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