Kolkata's iconic football club East Bengal and Shree Cement at loggerheads over agreed terms
A final definitive agreement needs to be signed by March 31, 2021. According to the term sheet, East Bengal would transfer the sporting rights as well as its assets and properties (including intellectual) to the newly-formed company Shree Cement East Bengal Foundation. In return, East Bengal would get 24 % equity of the new entity. The term sheets also states that the new entity will not inherit the club's old liabilities accrued before September 1, 2020.