Sporting Club East Bengal is a Football club based in the city of Kolkata and competes in the Indian Super League. It was founded in 1920 with the nickname red and gold brigade. Their entry was looking miserable due to the disputes among Shree Cement and the club and this dispute came to an end with the involvement of West Bengal Chief Minister Mamata Banerjee. Shree Cements holds 74% of the stakes while East Bengal Club Pvt. Ltd has a hold to 24% of the stake. The three-time champions of the I-League are still looking for exceptional performance in ISL.
The two parties faced each other at the Secretariat building located in Navana, West Bengal in the presence of Mamata Banerjee.“Shree Cement will remain as investors and East Bengal will play ISL. Congratulations to all EB fans,” said Mamata during the press conference.
S.S Khandelwal the representative of Shree Cement concluded that some differences among them were stopping them to sign the agreement but with Mamata Banerjee’s involvement and request, they are set to support the Team.
Mamata Banerjee clarified that she got a letter regarding this matter from Shree Cement where the investors were claiming to end their support and any sort of association with the club and after this Mamata was not happy and assured that she will try her level best to solve the dispute among the two so that the club can represent her State in the Top Indian football league ISL.
The members of the East Bengal club have disagreed to sign the agreement as they are claiming to have some discrepancy in the initial term sheet.