Chennai City FC looking to buy stakes in Chennaiyin FC, eye I-League exit

CHENNAI: Chennai City FC (CCFC) are in the process of securing a massive €20 million funding from European investors and also taking their first step towards playing in the Indian Super League (ISL). TOI has reliably learnt that the 2018-19

I-League

champions are likely to buy a huge stake in the city's other football club and two-time ISL champions Chennaiyin FC by the end of this year or early next year.

Even though a lot of details still need to be chalked out, it is understood that the deal won't be a merger as CCFC plans to completely take over Chennaiyin and its operations from next season and thereby ensure a smooth passage into playing India's top-tier league. CCFC is yet to decide under which name they will play the ISL.

Under the circumstances, CCFC might pull out from playing in the I-League this season. With poor broadcasting facilities and a handful of sponsors, the league hardly generates any revenue for the clubs which dish out a minimum of Rs 2-3 crore per season. Earlier this year, the league was also dealt a body blow when Indian football giants Mohun Bagan and East Bengal jumped ship to play in the ISL. With CCFC eventually playing in ISL from next season, the club management feels it can save up on the money which it spends on logistics and foreign players' salaries.

However, with time being a constraint as a lot of paperwork still needs to be completed before the ISL plan can be put in place, CCFC could reluctantly play the I-League if the

All India Football Federation

(AIFF) forces them to participate. While the ISL is set to begin in Goa from November 20, the AIFF is yet to announce a date for the start of I-League. CCFC, which mutually parted ways with Singaporean coach Akbar Nawas on Monday, will be coached by Nawas' compatriot and deputy Satyasagara if they are to play in the I-League. CCFC is now busy fulfilling the club licensing criteria.

Last year, CCFC became the first Indian club to sell its 26% stake to a foreign club - Switzerland's FC Basel. The huge funding is expected to make the club financially stable and help them in setting up a residential academy in Coimbatore.