The loan crisis on Vijay Malya has begun
to affect on two football clubs in Kolkata; namely "Mohun Bagan and East
Bengal".
Both the teams rival in grounds had dealt
the funding and sponsorship with the UB group of companies of Malaya. Rhe UB
group of companies, later this agreement, achieved shares. If let the issues of
licensing leave, everything was going on OK.
The banks are seeking for Mallya to be
defaulter in returning the loan.
The UB group is talking about to invest
money in IPL and Formula 1 Sports Team, but the football clubs have not been
included in this talks. The UB had signed partnership with East Bengal in the
year 1998.
According to the club bylaws, the company
was formed in 2000 and it was named 'United East Bengal Pvt Ltd'.
Kingfisher Beverage Company had shared the
claim; Mallya became the chairman of this company and nominated 5 board of
directors. The club was now named 'Kingfisher East Bengal FC'. However the UB
has said that the agreement will not be affected because of Mallya's economic crises.
But the condition is not favorable with
Mohun Bagan. A private company of Mallya took the 50% stake on club and United Spirit became its title sponsor. When the Mallya's company sold share to Diazziyo, the club is facing the fund crises. Mohun Bagan club is preparing to
take action legally in this matter.
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