Emami Group has yet to sign a definitive contract with the club

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Emami Group director Aditya Agarwal has confirmed that the multinational conglomerate has yet to sign a deal with Indian football giants East Bengal that would see them hold a majority stake in the century-old club.

West Bengal Chief Minister Mamata Banerjee had recently announced that he would report to his office in Nabanna in the presence of senior East Bengal civil servant Debabarata Sarkar and representatives of Emami Group – but according to Agarwal nothing is yet engraved in marble.

“Both parties are in agreement and the issue of East Bengal playing in the Indian Super League will be resolved. The deal has not been signed yet. Negotiations are still ongoing. Everything will be clear early next week. “, Agarwal told PTI.

“Yes, the discussions are about the participation model and other details. We haven’t signed the agreement yet and if there are any differences, the agreement can also be canceled. I don’t want to speculate, we are 100% sure. Everything will be clear in a week,” he added.

According to reports, Emami wants an 80% stake in the club, with the legal departments of both parties currently negotiating to finalize the project before it is signed.

The club previously entered into a partnership with Shree Cement Ltd in September 2020 but that ended prematurely after deciding to withdraw their investment after EB’s executive committee refused to sign the final deal.

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