Tata Steel on Friday approved the transfer of its entire 100% stake in Jamshedpur Football and Sporting Private Limited (JFSPL), the company behind Jamshedpur FC, to Churchill Brothers Sports Club Private Limited for a nominal consideration of ₹100.
The company holds 4.08 crore shares in JFSPL. Tata Steel and Churchill Brothers have signed a Share Purchase Agreement, with the transaction subject to necessary approvals from the All India Football Federation (AIFF) and other conditions.
The deal includes the transfer of Jamshedpur FC's Indian Super League (ISL) sporting licence, along with contracts of its players and coaching staff. Churchill Brothers will take over the contracts from September 2026, including those of 12 players and two coaches.
Churchill Brothers, a Goa-based club with nearly four decades of history, has won the I-League twice.
Also Read: Indian Super League plunges into crisis after Tata Steel exit
The deal comes days after Tata Steel said Jamshedpur FC would not participate in the 2026-27 ISL season.
The exit comes as the league faces growing questions over its commercial viability. According to an Economic Times report, ISL media-rights value has fallen from ₹275 crore a year paid by JioStar to an ₹8.6 crore offer from FanCode for the 2025-26 season.
The league has also seen other major exits and restructuring. Manchester City owner City Football Group exited Mumbai City FC last year, while the 15-year commercial agreement between Football Sports Development Limited and AIFF ended after a prolonged dispute over the league's commercial structure.
Market estimates cited by ET suggest that the wider Indian football ecosystem has invested heavily over 15 years while incurring losses of more than ₹5,000 crore.
Tata Steel said it will continue investing in grassroots and youth football, particularly among local and tribal communities.
The company will maintain and repurpose its sporting infrastructure for grassroots development and modernise its youth system in collaboration with AIFF.
Its Tata Football Academy, established in 1987, has trained more than 300 cadets, with 150 going on to represent India, according to the company.
