Tata Steel on Friday agreed to transfer ownership of Jamshedpur FC to Churchill Brothers FC for a token amount of Rs 100, subject to AIFF regulations.
The deal is expected to be completed by Aug 31.
Tata Steel Limited stated that the Committee of Directors, constituted by the board of the company, sanctioned the transfer of the entire 100 per cent equity stake, comprising 4,08 crore equity shares of face value Rs 10/- each, held by Tata Steel Limited in JFSPL, to Churchill Brothers Sports Club Private Limited (Churchill).
There was some relief in store for players who had expressed concerns over their future as Churchill Brothers will also take over the contracts of Jamshedpur’s 12 players and two coaches from September 2026.
Churchill Brothers carries close to four decades of footballing legacy in Goa, with two I-League titles and a strong record in Indian domestic football.
“Churchill Brothers is a club with real history in Indian football, and we are glad that this agreement gives our players and coaches the opportunity to continue playing club football. We thank AIFF and Churchill Brothers for their partnership in making this transition a smooth one,” said D B Sundara Ramam, Vice President, Corporate Services, Tata Steel.
Meanwhile, Tata Steel said that it will continue to focus on football at the grassroots and youth level, especially among local and tribal communities.
This includes the Tata Football Academy, which has trained 150 cadets who have represented India, as well as 26 captains of national teams across various age groups.
Jamshedpur FC had won the ISL Shield in 2021-22 and consistently built a competitive side since entering the ISL in 2017.
Jamshedpur FC were one of only two clubs, alongside Inter Kashi, who had reportedly not paid the first instalment of the Rs 55 lakh participation fee by the original July 20 deadline.
While Inter Kashi cleared a major portion of the amount after the deadline was extended to July 31, Jamshedpur failed to do so, paving the way for the club’s exit from the league.
Jamshedpur FC became the first ISL team to be disbanded since the league started in 2014.