Ranjit Bajaj shows interest in buying more than 70% shares of Quess East Bengal FC
Minerva Academy owner has shown interest in buying 70% of Quess East Bengal shares that are currently with the Bangalore based corporate body. East Bengal parted ways with Quess on June 1, earlier this year, but the footballing rights are still vested with the former entity - Quess East Bengal FC.
After two years of partnership and fallout within the management, East Bengal parted ways with Quess East Bengal earlier this year. But the sporting rights are still with the former identity, Quess East Bengal FC, while the Bengaluru-based company still holds more than 70% shares and are willing to sell them off before leaving the company. In the midst of the situation, Minerva Academy owner Ranjit Bajaj has shown interest in buying the shares.
āI have been in talks with Quess bosses for the last couple of weeks. I am ready to pay the money and buy the 70 percent shares that Quess is holding at the moment,ā said Ranjit Bajaj, as reported by News Click.
āAs per the agreement between East Bengal and Quess, the club has the right of first refusal in case the investors decide to sell the shares to a third party. Quess is currently negotiating with East Bengal officials on several issues. I will have a chance to step in if East Bengal and Quess fail to agree. Till then, I am waiting on the sidelines,ā added the Minerva Punjab academy owner.
Ranjit Bajaj was also the owner of Minerva Punjab FC, which won the 2017-18 I-League but recently sold the club to RoundGlass Sports club. As per reports, out of the total 14,78,571 shares of QEBFC, the investors hold 10,35,000 with them, while East Bengal has secured 443,571. If Ranjit Bajaj manages to pull off the coup, he will be entitled to all the shares held by Quess Corp.