ISL New Season – East Bengal – Shree Cement tussle: East Bengal’ ISL participation dealt a heavy blow after the executive committee in a meeting on Tuesday decided against signing the final agreement with investor Shree Cement. Furthermore, the EC members said they would resign if they are forced to sign the papers. The members say that there are differences in the term sheet and final agreement while Shree Cement refuses.
With just three months left for the ISL new season to start, East Bengal are now in a difficult position as Shree Cement threatened to pull out if the final agreement was not signed. The club is yet to make any new signings.
— SC East Bengal (@sc_eastbengal) June 1, 2021
“Every member of the committee has agreed that the club will not sign the definitive document in its current form. Also, the committee has decided that if the club is forced to sign this document under any kind of pressure, then everyone will resign,” a club statement said.
ISL New Season – East Bengal – Shree Cement tussle: After the EC meeting on Tuesday, the club suspended all its social media activities until further notice, hinting at a possible break-up with Shree Cement. The EC meeting was called after Shree Cement shot an email to East Bengal club officials demanding the final agreement to be signed as soon as possible so that the preparations could start soon.
“We had our executive committee meeting today. We discussed in detail all the points and differences which exist between the term sheet and the definitive document of Shree Cement. The general secretary (Kalyan Majumdar) has also agreed with the decision of the committee and conveyed it to the club president (Pranab Dasgupta). He has informed that nobody has to sign anything at the moment,” the statement said as per Telegraph.
ISL New Season – East Bengal – Shree Cement tussle: This isn’t the first time East Bengal have been at loggerheads with the investor. Before Shree Cement, the club had a fallout with Quess who eventually pulled out of the deal after two seasons. Before the ISL 2020-21 season, it was West Bengal Chief Minister Mamata Banerjee who intervened and helped the club get an investor to play in the ISL.
However, as things stand, it is unlikely that the club will have an investor for the upcoming season, meaning their ISL future is in doubt as the club won’t be able to pay the participation fee. Furthermore, the players including goalkeeper Debjit Majumder and Raju Gaikwad who joined the club to play under Robbie Fowler are also concerned about the situation and in absence of ISL, they could join other teams.