The East Bengal officials signed the final term sheet with their investors and formally handed over the club to the newly formed board...
East Bengal club officials, on Saturday, signed the final definitive documents and term sheet with their investors Shree Cement Limited which would transfer the club’s sporting rights as well all its assets and properties (including intellectual) to the newly formed company Shree Cement East Bengal Foundation - a Joint Venture between the two parties.
In the new entity, 76 per cent share will be owned by the investors while East Bengal will own the remaining 24 per cent.