AIFF top brass to meet eight ISL club CEOs on Aug 7 to discuss their concerns
Worried about their future, eight ISL clubs had written to the All India Football Federation after the top-tier league was put on hold by the organisers — Football Sports Development Limited — due to the lack of clarity on the Master Rights Agreement (MRA) with the national federation.
The 15-year MRA between the AIFF and the FSDL — the national federation's marketing partners — ends on December 18.
'AIFF officials will meet with CEOs from eight Indian Super League clubs, on Thursday, August 7, 2025, in New Delhi, to discuss issues regarding #IndianFootball," the AIFF said in a tweet.
Earlier, the eight ISL clubs had written to the AIFF that they found themselves unable to plan with the level 'that professional football operations require" in the absence of proper interaction with the AIFF or FSDL.
'This has impacted not just short-term decisions but is now beginning to affect the structural backbone of our institutions," they wrote.
The letter, calling for a 'constructive dialogue" with the AIFF, was signed by Bengaluru FC, Jamshedpur FC, FC Goa, Hyderabad FC, Kerala Blasters, NorthEast United FC, Odisha FC and Punjab FC.
The three Kolkata-based clubs — Mohun Bagan Super Giant, East Bengal, Mohammedan Sporting — as well as Mumbai City FC and Chennaiyin FC were missing.
Last month, AIFF President Kalyan Chaubey had assured that this season's ISL will be held, though he did not specify on a start date of the top-tier domestic competition.
'If the league doesn't take place, it is not only footballers but the people who are associated with football that will be affected. It's thousands of people who will be affected. So, we will put our best effort to ensure that the league happens," he has said.
On July 11, ISL organisers FSDL announced that it has put the 2025-26 season 'on hold" due to the uncertainty surrounding the renewal of the MRA signed with the AIFF in 2010.
ISL normally runs from September to April.
Following a directive from the Supreme Court, the AIFF has been asked not to negotiate new terms of the MRA (with FSDL) until a final judgment is delivered in the AIFF draft constitution case.
The Supreme Court may pronounce its judgment soon. PTI PDS PDS AH AH
view comments
First Published:
August 04, 2025, 20:15 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
25 minutes ago
- Business Standard
Strategic Merger Reshapes Legal Landscape in Banking & Finance Sector
PNN Mumbai (Maharashtra) [India], August 4: The Indian Bar Council recently amended its rules allowing foreign lawyers and firms in non-litigation domain to practice foreign law, international law and international arbitration in India, on a reciprocal basis, which triggered significant realignments. Amid this shift, SJ Law, a Mumbai- and Delhi-based law firm headed by Senior Solicitor Samir Jagad, has fully merged with Solicis Lex Advisory. Operating from Bandra and recently expanding to Nariman Point, SJ Law merged through the mediation of a prominent Mumbai-based industrialist. SJ Law is recognised as a leading Indian Banking and Finance firm, boasting an extensive clientele comprising banks, NBFCs and large-scale financial institutions. Solicis Lex, meanwhile, has grown significantly through acquisitions in Juhu and Delhi, establishing a strong footprint in Supreme Court and High Court litigation, M & A, real estate and NCLT matters. On 2 August, Solicis Lex welcomed Mr. Jagad as a Partner to lead its Banking & Finance Practice, bringing his entire team on board. Adv. Ameet Mehta, Managing Partner at Solicis Lex, announced: "We are pleased to acquire SJ Law through its Sole Proprietor Mr. Jagad, who joins as Senior Partner to exclusively lead our Banking & Finance practice. SJ Law is a long-standing trusted advisor to leading banks, financial institutions and corporate borrowers. Dealogic ranked it many times among the top ten law firms globally and in the Asia-Pacific region as a 'Project Finance Law Firm', including first in the Asia-Pacific during H1 2016. This acquisition realigns our banking vertically across Mumbai and Delhi with evolving client needs." Mr. Jagad, as team leader, has handled debt transactions exceeding ₹2 trillion (₹2 lakh crores), including ₹1.5 trillion during his tenure at SJ Law, reflecting the depth, complexity and trust associated with his practice. Reflecting on his journey and future, Mr. Jagad shared: "The Legal 500 Asia Pacific (2017) noted SJ Law's role in breaking the deadlock between NHAI and banks. Our 'Security Clause', introduced after extensive persuasion, set a sector-wide precedent. I'm excited to join Solicis Lex, which blends legal acumen with strategic foresight. I look forward to building a dynamic Banking & Finance practice with a team focused on excellence, qualitative output and efficient turnaround. I'm especially excited by the firm's threefold growth in four years, positioning it as a market leader. Having known Ameet professionally, I've witnessed his sharp restructuring vision and performance-focused leadership." Mr. Jagad, 1993 Solicitor's Examination topper, is renowned for his regulatory expertise and innovative, solutions-driven approach in Banking and Finance. The International Comparative Legal Guide to Project Finance 2016 recognised Mr. Jagad for his extensive expertise in project finance and infrastructure, highlighting his commercial insight, innovation and pioneering solutions in transactions and extending to the sector. Ms. Swetha Poojary, Senior Lawyer and heading Corporate Law at Solicis Lex, commented: "We are pleased to acquire SJ Law and welcome Mr. Jagad as Partner. His extensive experience and leadership will strengthen our banking and finance capabilities to better serve sector-wide clients." With this strategic acquisition, Solicis Lex now has over 300 lawyers, bolstering its presence in finance, banking, pharma and real estate. The firm now has a footprint across 12 countries, alongside a strong domestic presence in India. Website:
Time of India
31 minutes ago
- Time of India
Electrosteel expects growth with Bengal's new incentive policy
Kolkata: Electrosteel Castings, a water infrastructure and pipeline solutions provider, is optimistic that state govt's new incentive policy will be industry-friendly. The CM Mamata Banerjee-led govt earlier scrapped the previous policy, prompting some companies to move court. The Kolkata-based company is also confident that its recent acquisition of Italian valve-maker TIS Service Spa will boost both its revenue and profitability. Sunil Katial, whole-time director and CEO, said the company's proposed ductile iron project in Odisha, with an estimated investment of Rs 3,000 crore, has already been delayed for 8-9 months due to land issue. "We are hoping for a new incentive scheme in Bengal," he said. Electrosteel currently operates three units in Khardah, Bansberia and Haldia. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata On the Italian acquisition, Ashutosh Agarwal, whole-time director and CEO, said the Rs 150-crore deal was funded with internal accruals. TIS, which now earns 40 million Euros annually, has two manufacturing facilities in Italy and Turkey and logistics facilities in Italy and Poland. Agarwal projected a 13-15% turnover growth for TIS over the next few years. "We aim to deepen Electrosteel's presence in Europe, the Middle East, Southeast Asia and Latin America," he added.
NDTV
2 hours ago
- NDTV
India's Wealthiest 1% Holds 60% Assets In Real Estate, Gold: Report
New Delhi: The top 1 per cent of India's wealthiest citizens have parked 60 per cent of their money in real estate and gold, according to a report on Monday. This segment of 'wealthiest citizens' is comprised of Ultra High Net Worth Individuals (UHNI), High Net Worth Individuals (HNI) and the affluent class, which accounts for only 1 percent of Indian households but controls nearly 60 per cent of the country's total assets, the report by US-based wealth management firm Bernstein said. This segment holds $11.6 trillion in total wealth and 70 per cent of India's financial assets, the report said. India's total household wealth is estimated at $19.6 trillion, out of which $11.6 trillion, or 59 per cent, is held by this wealthy segment of the population. Out of this, only $2.7 trillion is invested in serviceable financial assets that can be actively managed or reallocated, such as mutual funds, equities, insurance, and bank or government deposits. The remaining $8.9 trillion is held in non-serviceable assets, including gold, cash holdings, promoter equity, and physical real estate, according to the report. The report indicates huge growth potential for asset management firms to grow their assets under management (AUM) over the next decade, as India's affluent class is looking for avenues to diversify their portfolios beyond gold and real estate. The report highlighted how this wealth segment remains largely underpenetrated by formal wealth management services, with a considerable portion of financial wealth unmanaged. In a previous report, Bernstein had mentioned that specialised wealth managers currently hold only 11 per cent share in the liquid financial asset pool of India. The findings also underscore a broader structural trend in India: while income inequality is high, wealth inequality is even starker. "The top 1 percent earns 40 percent of all income, while the 'Rest of India' holds only a small fraction of both income and assets," the report said. There are approximately 35,000 UHNI households whose net worth surpassed $12 million (Rs 100 crore). These households have an average asset value of $54 million (Rs 472.5 crore), including $24 million (Rs 210 crore) in financial assets. According to the report, this affluent segment collectively held $4.5 trillion in financial assets, which amounts to 70 per cent of the country's total financial wealth.
