East Bengal-Shree Cements part ways; CM Mamata to meet with mediators to discuss solution

East Bengal’s chances of playing in the Indian Super League (ISL) 2020-21 got a serious jolt after the club’s investors Shree Cements pulled out of the five-yead deal earlier today. Shree Cements wrote to the Chief Minister of West Bengal, saying they have considered pulling out of the deal after the club officials refused to sign a legal agreement to take the deal forward. The Club officials had signed on the Memorandum of Understanding (MoU) back in September 2020 under the pressure of the Chief Minister of West Bengal, Mamata Banerjee who helped East Bengal made a last-minute entry to the Indian Super League.

Shree Cement-East Bengal part ways as former backs out from deal

"I've received a letter from the authorities (Shree Cement Limited) at the very last moment that will not be able to run the show (at East Bengal)”, said the Chief Minister to the PTI during a press conference in Kolkata. It's a very bad attitude, to keep the club's fate hanging for several months and then pulling out at the last moment. We are very sad and annoyed. So what happened that things changed so suddenly, what is the mystery behind it?"

The Chief Minister had joined the Football Sports Development Limited (FSDL) as the mediators in the deal back in October and were involved in some capacity throughout the last few months to get both the parties to reach a compromise over the rights of members, usage of the club tent area and the right to terminate the agreement. It is to be noted that the Club officials had earlier agreed to all the terms during the MoU, but took a sudden u-turn after the season ended in March 2021.

"East Bengal have a great legacy. We all want Mohun Bagan and East Bengal to play in ISL. I am very happy that Mohun Bagan are playing and we all want East Bengal to play in the ISL too" the CM added. 

East Bengal officials and Shree Cements to meet for one last time with Chief Minister

"We will also let them know that we are displeased with the situation and we will try to sort this out. Time is very short, let's see. I urge everyone in the club management to come forward and deal with the crisis," We are yet to receive the letter, so can not comment at this point in time. But we are hopeful to play ISL," she added

The office of the Chief Minister is set to meet FSDL, Shree Cements and East Bengal FC soon to sort out the differences as the fans of the club hope for a last-minute change of fortune. East Bengal is also facing a transfer ban over non-payment of dues to some of its past players. The next season of the ISL is set to kick-off on November 19 in Goa and the Red and Golds have not signed a single player and risk yet another disappointing 2021-22 football season.