East Bengal officially transferred all sporting rights to Shree Cement East Bengal Foundation, the newly formed joint venture between the club and their investors Shree Cement Limited (SCL). The transfer was approved by members of East Bengal at an extraordinary general body meeting at the club tent on Tuesday.

The club also transferred all its assets and properties, including their intellectual property, to the new company.

One of the agendas of the meeting was “to approve that in case of differences/conflict between Club Rules (as amended from time to time) and Term Sheet/Definitive Agreement(s) entered into between Club and SCL (together with its affiliates), the conditions of the Term Sheet/Definitive Agreement(s) will prevail.” But majority of the members did not agree to it.

The minutes of the extraordinary general body meeting were sent to the investors.

The club may play as SC East Bengal in the upcoming Indian Super League (ISL). But nothing has been finalised yet.

Also, European clubs like Inter Milan, Benfica and Charlton Athletic FC, have sent congratulatory messages to East Bengal on their centenary year.