Tata Steel relinquishes ownership of FC Jamshedpur as they sell club to Churchill Brothers for "just" ₹100
Both parties have signed a formal share purchase agreement to transfer 100% of the equity shares of Jamshedpur Football & Sporting Private Limited
XtraTime Newsdesk: Tata Steel is ending its decade-long association with Jamshedpur FC by relinquishing complete ownership of the franchise to Goa-based Churchill Brothers for a nominal token amount of ₹100.
Both parties have signed a formal share purchase agreement to transfer 100% of the equity shares of Jamshedpur Football & Sporting Private Limited. The full transition process is expected to take approximately 15 days to conclude, pending final regulatory clearances from the All India Football Federation (AIFF).
The comprehensive takeover includes the immediate acquisition of Jamshedpur FC's coveted Indian Super League (ISL) sporting license. Additionally, Churchill Brothers will absorb all existing club liabilities and contracts, which include active agreements with 12 senior players and two coaches.
Despite direct appeals from the national federation urging them to reconsider the exit, the Tata Group remained firm on its decision. Moving forward, the corporate giant will pivot away from professional club football to focus its resources entirely on grassroots youth development across the country.
The Goan outfit has already formally briefed the AIFF regarding the transaction. If the federation grants its official approval, Churchill Brothers will directly replace Jamshedpur FC in the ISL starting next season. This milestone marks the realization of a long-standing ambition for the club, which has heavily lobbied for a top-tier spot amidst ongoing I-League championship disputes.