East Bengal sought to overcome a deepening financial crisis by announcing a new tie-up with the business service provider Quess Corp on Thursday.
The new arrangement comes after the conclusion of the agreement with its long time sponsor Kingfisher.
The new tie-up is likely to revive East Bengal’s preparations for the new season as the Bangalore-headquartered conglomerate formalised a joint-venture company — Quess East Bengal FC Pvt. Ltd. (QEBFC) — giving a big financial boost to the club.
The new deal gives Quess Group 70% shares in the newly formed company but the club and its investor will have equal number of board members — four each — in the decision making body.