East Bengal and Emami Group formally launched their joint venture 'Emami East Bengal' on Tuesday with Emami Group holding 77 per cent share and East Bengal holding the remaining 23 per cent share in the newly formed company.
The representatives of the newly formed company also confirmed that the Red and Golds will take part in every major competition including the Indian Super League (ISL) in the upcoming 2022-23 season as 'East Bengal FC'.
The ratio of the Board Members is set to be three from East Bengal and seven from Emami Group.
What was said on the East Bengal-Emami deal?
Speaking on the collaboration, Emami Group director Manish Goenka said, "It's a great honour to join hands with East Bengal. We (Emami Group) are based in Kolkata. I would say two giants of Kolkata are joining hands and I am sure and confident that this will be a huge success.
"It has been a good start for us. We have appointed Stephen Constantine who has experience in Indian football. I am sure we will make a good team and hope we get success."
How will East Bengal benefit from the deal with Emami Group?
With Emami Group coming in as the third investor of East Bengal in the last four years - after Quess Corp and most recently Shree Cement - the club will be looking to utilise the finances pouring in from Emami Group to build a competitive squad to feature in the Durand Cup, Calcutta Football League, Super Cup and the ISL this season.
Were East Bengal and Emami Group associated before?
This is not the first time that East Bengal and Emami Group are coming together. The Kolkata-based company were the club's title sponsor during the 1996-97 season.
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