New Delhi: In a surprising move that marks the end of an era in Indian football, Tata Steel has officially approved the sale of its entire stake in Jamshedpur Football and Sporting Private Limited. The company, which operates the Indian Super League club Jamshedpur FC, has been transferred to Goa based Churchill Brothers Sports Club for a nominal token amount of just one hundred rupees.
The transaction was approved by the Committee of Directors of Tata Steel on Friday. Under the share purchase agreement, the steel giant will hand over all of its four crore eight lakh equity shares to Churchill Brothers. The deal is expected to be completed by the end of August, subject to customary conditions and final clearance from the All India Football Federation.
As part of the transfer agreement, Churchill Brothers will acquire the Indian Super League sporting licence of Jamshedpur FC. The historic Goa club, which boasts nearly four decades of legacy and two I League titles, will also take over the existing contracts of twelve players and two coaches starting from September 2026.
This development comes shortly after Tata Steel announced its decision to withdraw Jamshedpur FC from the upcoming season. The corporate giant decided to step away from professional club ownership amid growing concerns over the commercial viability and structural changes within the domestic league. Market reports suggest that the league has been facing financial turbulence and a massive drop in media rights valuation.
The exit of the Tata Group from the top tier of Indian football has left fans and players disappointed. Former India captain Sunil Chhetri expressed his deep concern on social media. He stated that knowing Jamshedpur has folded first team operations is a punch to the gut. He further added that not having the Tata group involved in the top tier of Indian football would be a disaster with no alternative.
Despite stepping away from the commercial franchise model, Tata Steel released a statement confirming its continued dedication to youth football. The company plans to focus heavily on identifying and nurturing young talent from local and tribal communities. Its famous Tata Football Academy in Jharkhand, established in 1987, will remain active to train future generations for the national team and ensure their sporting legacy continues.