It has officially been announced that FC Mohun Bagan, the oldest football club in India and also a former I-League champion, will merge with two-time Indian Super League (ISL) champions ATK at the end of the ongoing season.
According to a press release by the Indian Super League, the RPSG Group, which owns and runs ATK will acquire a majority shareholding in Mohun Bagan Football Club (India) Private Limited.
The new football club will have brand names of ATK and Mohun Bagan. The RPSG Group will become 80 % majority shareholder alongside Mohun Bagan Football Club (India) Private Limited owning the remaining 20 % shares.
Welcoming Bagan into the group, Dr Sanjiv Goenka, Chairman, 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. 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 merger and the opportunities it presents, Mr Swapan Sadhan Bose, Chairman, Mohun Bagan Football Club (India) Pvt. Ltd. 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 bigger truth.”
“In this context, I am very thankful to one of India’s most well-known industrialists 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 bigger and greater heights. In this respect, it is a red-letter day in the history of this iconic institution.”
“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,” he concluded.
It was further announced that the merged club will come into existence on June 1, 2020 – and that they will compete in the 2020-21 season of the ISL.