Streamcast, a leading global technology group, which provides cloud-based SaaS streaming services to internet infrastructure owners, has inked a deal with Kolkata giants Mohun Bagan. It is a 10-year deal with the club where the company will make an initial investment of INR 200 crores with an investment of an extra INR 150 crores later on.
Mohun Bagan secretary Anjan Mitra said, “We have been in talks with them for the past few months. We have submitted the required paperwork. There is some more paperwork left. I hope the other directors will co-operate. An agreement will be signed on September 9 and we will complete all paperwork by September 15. We will sign a MoU. 74% share will be handed over to them.”
He further added, “I have spoken with other directors. We have been in talks for three months. We all agreed to hand over 74% (shares). There was a resolution passed in the executive committee to hand over 74% (shares) with immediate effect.”
Mitra also confirmed that the name of the club will remain unchanged and that they will also submit a bid for ISL when the bidding opens on November 15. The company will pay the bid amount.