Quess begin hunt for new investors as they look to exit from East Bengal
by Shubham Sharma
Bengaluru-based Quess Corp is now on the hunt to find new investors for their stakes at East Bengal as they are set to part ways with the I-league outfit at the end of this season.
Quess Corp had only entered into a joint-venture pact with the club last year and were major stakeholders at the club.
But the club officials didn't like the fact that the company took almost all the decisions of the club and felt that they were being sidelined.
"We (have) already started talking to our other relevant stakeholders to monetise this asset (investment in East Bengal). We have also been talking to a few possible investors. We are confident that by the end of this season, we will most probably not be there in that club,” he said, responding to a query.
“By the next two to three quarters, we will be out of this arrangement,” he added.
The investors are also looking to increase sponsorship for the club this season in order to decrease the loss caused due to the investments made in the club, which turned up to almost Rs. 20 crores.
It is however yet to be cleared whether the exit of the company from the club would be partial or a complete one, and whether or not the new investors may take up the void that will be left by Quess's exit.