Churchill Brothers are set to feature in the upcoming Indian Super League season starting September 4 after Tata Steel on Friday sold its entire stake in Jamshedpur Football Club to the Goan side.
In a stock exchange filing, Tata Steel said that its committee constituted by the company's board had approved the transfer of the entire 100% equity stake comprising 4.08 crore equity shares of face value Rs 10.
Each was held by Tata Steel Ltd in Jamshedpur Football and Sporting Pvt was sold to Churchill Brothers Sports Club Pvt for a nominal consideration of just Rs 100.
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Following this approval, Tata Steel and Churchill have entered into a share purchase agreement setting out the terms and conditions governing the transfer of Tata Steel's entire shareholding in JFSPL. JFSPL is a wholly-owned subsidiary of the steel major.
Backdrop: Jamshedpur FC's ISL Exit
The transfer comes after Jamshedpur FC pulled out of the ISL and disbanded its first team on July 31, hours after missing the deadline to pay the first instalment of its participation fee, amounting to Rs 55 lakh. The AIFF had confirmed that all 13 other ISL clubs had paid their participation fees on time.
Churchill, the Goan club taking over, is expected to pay the full Rs 1.1 crore participation fee to the All India Football Federation.
What The Deal Includes
Along with the equity transfer, the deal includes the transfer of Jamshedpur FC's Indian Super League sporting licence, as well as the transfer of 12 players and two coaches to Churchill.
The Goan club will take over the contracts of all Jamshedpur FC players and coaching staff with effect from September 1, with the ownership transfer expected to be completed by August 31.
The completion of the transaction remains subject to certain conditions, including necessary approvals from the AIFF and other customary actions agreed upon between the two parties.
Churchill's Return To Top-Flight Football
Churchill Brothers had earlier won the I-League title, which was the top tier competition but now a domestic football second-tier competition, before it was rechristened as the Indian Football League this season, in 2008-09 and 2012-13. Earlier this year, the AIFF relegated Churchill to the I-League 2 after the club withdrew from the 2025-26 I-League season.
Tata Steel Reaffirms Grassroots Football Commitment
Tata Steel said it remains firmly committed to its long legacy of developing sport at the grassroots level. The company noted that the Tata Football Academy (TFA), established in Jamshedpur in 1987, has trained over 300 cadets, 150 of whom have gone on to represent the Indian national team.
(With PTI inputs)
ALSO READ: Tata Steel Quits ISL And Sells Jamshedpur FC For Only Rs 100 To Churchill Brothers
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