East Bengal: Club facing more delays in sealing deal with investor Emami Group
The partnership agreement between Indian footballing giants, East Bengal and potential investor Emami Group continues to undergo further delays despite the club management reiterating that the process of setting up the joint venture is under way.
East Bengal's executive committee on Tuesday passed the resolution of issuing the no-objection certificate to the investor, which is understood to be a prerequisite for club licensing criteria.
"We'll sit with the investor again in a day or two to discuss our next course of action. Hopefully, the deal will be signed in a week," senior club official Debabrata Sarkar said in a statement.
ABP reports that new company "Emami East Bengal Ltd" registration NOC has been provided by EC yesterday.
— World of East Bengal (@worldeastbengal) July 13, 2022
It seems like, while everybody is on the same page that signing players is most important,the delay in getting an investor has hurt us in building a good team. #eastbengal pic.twitter.com/qfjx9RZKDd
Last month, an Emami Group spokesperson firmly put the blame on East Bengal for the delay in signing the agreement as the team building was reportedly stopped midway after a handful of announcement.
"Our personal family function, as referred to by the East Bengal Club in their press release issued today, has no bearing on the agreement/ development. In this context, we wish to state that we are a professional corporate entity and we understand the urgency of building the team ASAP. We have received today (Sunday), East Bengal Club’s response with suggested inputs by their legal counsel," a spokesperson said.
Meanwhile, in other news related to the club, the management has decided to award former stars, Goutam Sarkar and Swapan Sengupta with the lifetime achievement award.