Shares and salary impasse at Mohammedan Sporting | Football News

Kolkata: The issue of pending salaries for players and staff at Mohammedan Sporting took a new turn on Tuesday when their investor said the memorandum of understanding with the club has expired and that shares have yet to be transferred. No funds will be released till the problems are solved, the investor said.

Shrachi Sports, who announced a three-year partnership with Mohammedan Sporting last August, said in a press release on Tuesday that it has been caught in a tussle between the club and its original investors Bunker Hill. Bunker Hill, a sports management company based in Gurugram, had taken charge of the club in 2020 and Shrachi Sports had brought a stake from them before Mohammedan Sporting debuted in the Indian Super League (ISL) this season.

But Bunker Hill serving the club with a legal notice has led to a legal impasse that prevents Shrachi Sports from releasing funds, it has said in a press release. “We have already spent more than 50% of our committed investment into Mohammedan Sporting Club Pvt. Ltd,” said Shrachi Sports.

The club has not transferred 61% shares, as had been agreed upon, to Bunker Hill, the media release said. “We too have not been issued any shares by the club despite repeated promises to do so.” The release was issued on the club’s WhatsApp group. Mohammedan Sporting officials.

A Mohammedan Sporting official accepted that shares have not been transferred but said most of the problems have been resolved at a meeting on Tuesday attended by representatives from Shrachi Sports, Bunker Hill and the club. The official could not say when salaries would be cleared. Requesting anonymity, given the sensitive nature of the issue, the official said salaries are due only for December.

The impasse had led to most players missing training on Monday. “But a gym session was scheduled today and all the players took part,” said the official.

With two wins after 16 rounds, the 125-year-old club is second last in the 13-team standings with 11 points. But Mohammedan Sporting had pulled off a creditable draw from being 0-2 down against Chennaiyin FC in the last round. It was their fourth undefeated match in succession, a run that included a 1-0 away win at former champions Bengaluru FC. Mohammedan Sporting travel to Mumbai City FC on Sunday.