ATK and Mohun Bagan Merger is Complete: RPSG Group Acquires Majority Stake in Mohun Bagan
ATK owners RPSG Group acquired majority stakehold in Mohun Bagan Football Club (India) Private Limited.
ATK and Mohun Bagan will now have a merged identity.
Kolkata: Indian Super League club ATK and one of the oldest Indian football clubs Mohun Bagan completed the merger that was in the news for quite some time now. On Thursday, it was announced that the RPSG Group, which owns and runs ATK, will acquire majority stake in Mohun Bagan Football Club (India) Private Limited.
The merger means ATK and Mohun Bagan will develop into a new merged identity to compete in the Indian football landscape. The merged club will come into existence from the June 1, 2020 and will compete in Indian Super League season 2020-21, along with other important competitions of the All India Football Federation calendar.
The new football club will have brand names of ATK and Mohun Bagan. RPSG Group will become 80 per cent majority shareholder alongside Mohun Bagan Football Club (India) Private Limited owning the remaining 20 per cent shares.
It was also announced that the members of the Mohun Bagan Athletic Club will continue to get discounted tickets for all home matches.
For the last couple of years with the topic of one single football league in India heating up, there were whispers that ATK were looking to merge with either East Bengal or Mohun Bagan. With the time, the rumours for a merger between ATK and Mohun Bagan grew stronger and an official announcement was made on Thursday.
Welcoming Mohun Bagan into the group Sanjiv Goenka, chairman of RPSG Group said, "RPSG Group which has a 200-year-old legacy is humbled and honoured to welcome Mohun Bagan with folded hands and open arms to the RPSG family. RPSG Group is known for acquiring and growing legacies such as the 120-year-old CESC, 150-year-old Spencer's Retail, and the 100-year-old Saregama. Personally, it's an emotional reunion for me as my father Late Shri R P Goenka was a member of Mohun Bagan."
Commenting on the unison Mohun Bagan Football Club's chairman Swapan Sadhan Bose said, "As much as we want the romance of the Maroon and Green jersey and it's 130-year-old tradition to continue, there comes a time when romance almost invariably requires a partner named practicality. To usher into the new era of football, you need bigger investments and a corporate force to take it forward. This is undoubtedly a harsh and the bigger truth.
"In this context I am very thankful to India's one of the most well-known industrialists and our Kolkata's very own Dr. Sanjiv Goenka for his investment through RPSG. Their vision on Indian football aligns with our philosophy and our combined forces will surely take the club to a bigger and greater heights. In this respect it is a red-letter day in the history of this iconic institution.
"I thank Dr. Goenka profusely for partnering our dream. His father, the Late RP Goenka was a good friend of mine. Apart from his legendary acumen as a businessman, RPG had a huge fondness for Mohun Bagan and was one of our members. Whenever we met business took a back seat and discussions on the club moved in the forefront.
"I can assure millions and millions of Bagan supporters spread across the globe, that the poetry will continue. Now that the prose is ready to lend a helping hand."
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