East Bengal, Emami Group close to reaching an agreement
Club officials and representatives from the investor met on Wednesday over drawing up the agreement and both parties were understood to have arrived at a consensus over some contentious points in it. Confirming the development, a statement from the investor said that legal teams of both parties are now preparing the final draft of the agreement, two months after chief minister Mamata Banerjee announced Emami Group as the new investor for the city club. In March, soon after their disastrous campaign in the ISL got over, previous investor Shree Cement Ltd decided to severe ties with the club, ending their venture in two crises-ridden seasons during which the term sheet signed between the two parties in 2020 was never executed into a definitive agreement.


