Breaking : We are returning the Sporting Rights to East Bengal: HM Bangur
Xtra Time Web Desk: In what comes as a huge relief for East Bengal club, investors Shree Cement has decided to severe all ties with the Kolkata giants. Confirming the development to Xtra Time Bangla over phone, Mr HM Bangur said, “Yes, we have decided to return the sporting rights to East Bengal. The paper works are being worked out. I would not like to comment anything more at this stage.”
Reacting to the development, East Bengal club’s top executive official Nitu Sarkar said he is aware of it as Shree Cement has mailed to the club. He will comment once he sees the official mail from Shree Cement.
“I am fully aware of it as they (Shree Cement) sent us an email. I will be in a better position to comment any further once I see the mail myself,” Nitu Sarkar said when contacted by Xtra Time Bangla.
The club management had signed an initial term sheet in September 2020 as the sporting rights as well all its assets and properties (including intellectual) will be transferred to the newly formed joint venture "SC East Bengal".
But trouble brewed in the build up to the last ISL season as the HM Bangur-owned SCL refused to "spend a penny" on team-building unless the final agreement was signed.
East Bengal club executive committee had decided not to sign the final agreement claiming discrepancies in the initial term.
