Indian Super League club East Bengal's deal with investors Emami Group is nearing completion, the club confirmed in an update on Wednesday.
What happened to East Bengal - Emami Group deal?
West Bengal Chief Minister Mamata Banerjee, earlier this month, had announced Kolkata-based multinational company Emami Group as the new investor for Indian Super League (ISL) outfit East Bengal.
The Kolkata-based team appeared in the last two ISL seasons with Shree Cement as their investor. Having finished ninth in their debut season, the team finished bottom of the standings with 11 points from 20 games in the last term.
CM Mamata Banerjee had further confirmed the club's participation in the upcoming season of ISL as well. "Both sides came to me for tea today. Both sides have agreed. As a result, the problem of East Bengal playing in the ISL will be solved."
Latest update on East Bengal's new investors
According to a joint statement released by East Bengal Club and Emami Group, the meeting held on Wednesday (June 29, 2022) was fruitful and both parties are set to prepare the final draft agreement for execution.
The group has also promised to build a strong team for the upcoming 2022/23 season as fans wait to see how the Red and Golds will look like.
What happened at East Bengal - Emami Group meeting?
'The officials of both Emami and East Bengal Club met today for a discussion on the draft agreement. The meeting was fruitful. While most of the points were already cleared between both the parties, today's meeting helped to clear the remaining points positively. The lawyers of both parties will now jointly prepare final draft of the agreement for execution as soon as possible. Both Emami and East Bengal Club will also make efforts to put together a good and strong team asap. Emami and East Bengal are happy to inform that everything is on the right track and will progress very fast.'