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Tata Steel Sells Jamshedpur FC: India’s famous and oldest industrial conglomerate, Tata Group, is constantly in the news. N Chandrasekaran, chairman of the group’s main company Tata Sons, has announced his resignation. This has created turmoil in the company. But apart from this, Tata Group is in the news for another reason. Tata Steel, one of the oldest and most prominent companies of the group, has sold its football club Jamshedpur FC for just Rs 100. Tata Steel has made this shocking deal with Churchill Brothers Sports Club.

Jamshedpur FC, one of the leading clubs in India’s top football league, the Indian Super League (ISL), was a part of Tata Steel for the last nine years. The company had formed a subsidiary company named Jamshedpur Football and Sporting Private Limited (JFSPL) to run the club. Tata Steel had the entire stake in it. But just a few weeks ago the company had decided to withdraw from ISL and made it clear that it would no longer run the club.

On Friday, August 14, Tata Steel issued a statement announcing the deal with Churchill Brothers. In this announcement, it was told that the Committee of Directors formed by Tata Steel has approved the sale of 100 percent stake (about 4.08 crore shares) in JFSPL. But the most surprising thing was the price of this deal. The company completely sold the club for just Rs 100.

Under this deal, Churchill Brothers will get the ISL license of Jamshedpur FC. Apart from this, Churchill Brothers will also get the contracts of all the 12 players and 2 coaches present in the club’s roster. Now all of them will advance their career with the new club. However, this deal has not yet received the approval of the All India Football Federation (AIFF), but this process is expected to be completed by August 31.

In this way, from the new ISL season this club will run from Goa instead of Jamshedpur. Churchill Brothers Sports Limited is one of the oldest clubs in India, which has been active for the last 38 years. Although till now the club was a part of I-League but now it will play in ISL. As far as Jamshedpur FC is concerned, the club made its ISL debut in 2017-18. When it was decided to include two new clubs in ISL, Tata Steel had bought the franchise of Jamshedpur. The club was participating in this league for the last 8 years and in 2021-22 it won the league shield by being number-1 in the league.