West Bengal chief minister, Mamata Banerjee on Wednesday once again come to the rescue of East Bengal by announcing that Emami Group would be the new investors of the Red and Gold Brigade.
India cricketing legend and president of the Board of Control for Cricket in India (BCCI), Sourav Ganguly had recently hinted that Premier League giants, Manchester United had expressed an interest in investing in the club.
However, no such deal with the English giants took place as Banerjee confirmed that East Bengal's ownership problems have been solved.
"Both sides came to me for tea today and have agreed (to join hands together). As a result, East Bengal's problems in relation to playing in the ISL have been solved," she said.
This is not the first time that the Chief Minister of West Bengal has come to the rescue of the club as she brokered a deal with Shree Cement Limited in 2020 in order to ensure that the club would be allowed entry into the 2020/21 Indian Super League (ISL) season.
The cement conglomerate bought a majority stake of 76 per cent to help them enter ISL, but choose to dissolve their association last month with the club. The Indian footballing giants were also understood to be talking with with Bangladesh-based conglomerate Bashundhara Group but nothing came out of it.