Mohammedan Sporting confident of meeting clublicensing criteria
After winning its maiden ILeague title, Mohammedan Sporting is now confident of fulfilling the ‘₹100crore bank guarantee requirement’ that will pave its way to the toptier Indian Super League next season.
The 133yearold club, second oldest in Kolkata’s maidan after Mohun Bagan, will play in the ISL next season, subject to fulfilling Indian Club Licensing System Premier 1 criteria.
“We have already met ISL club licensing criteria which is basically about infrastructure, administration, sporting and financial criteria,” Mohammedan Sporting general secretary Ishtiaque Ahmed told PTI.
By virtue of being a promoted club to the ISL, Mohammedan Sporting, unlike Bagan and East Bengal, won’t have to cough up the ₹15crore franchise fee.
“We now just need some bank guarantee and some financial matters that need to be sorted with the investors, which will be done in due course,” Ahmed said.
As per guidelines, the new club will have to show a bank guarantee of ₹100 crore to play in the toptier league, something Punjab
FC had done last season.
Gurgaonbased sports management firm BunkerHill Pvt. Ltd. has currently 51 per cent stake in the club after inking an eightyear deal amid much fanfare in October 2020.
After the promotion to the ISL, its stake will increase to 61 per cent and it remains to be seen if it gets clubbed with any new investors ahead of the next season.
Ahmed was part of West Bengal Chief Minister Mamata Banerjee’s delegation to Dubai and Spain late last year during which they had a talk with potential investor in Lulu Group which eventually didn’t materialise.
“It was due to some political problem. But we have our CM’s full support and we already have an investor on board.
“We are confident of showing the bank guarantee within the deadline. We are set for ISL debut from next season,” he said.