I-League club Mohun Bagan on Thursday announced the merger with Indian Super League (ISL) club ATK here.
The merged club will have brand names of ATK and Mohun Bagan. RPSG Group, which owns ATK, will become 80 % majority shareholder alongside Mohun Bagan Football Club (India) Private Limited owning the remaining 20 % shares.
Dr. Sanjiv Goenka, Chairman, RPSG Group said in a statement: "RPSG Group which has a 200-year-old legacy is humbled and honored to welcome Mohun Bagan with folded hands and open arms to the RPSG family.
RPSG Group is known for acquiring and growing legacies such as the 120-year-old CESC, 150-year-old Spencer's Retail, and the 100-year-old Saregama.
Personally, it's an emotional reunion for me as my father Late Shri R P Goenka was a member of Mohun Bagan," Mr. Swapan Sadhan Bose, Chairman, Mohun Bagan Football Club (India) Pvt. Ltd. said: "In this context, I am very thankful to India's one of the most well-known industrialists and our Kolkata's very own Dr. Sanjiv Goenka for his investment through RPSG. Their vision on Indian football aligns with our philosophy and our combined forces will surely take the club to bigger and greater heights. In this respect, it is a red-letter day in the history of this iconic institution,".
"I can assure millions and millions of Bagan supporters spread across the globe, that the poetry will continue. Now that the prose is ready to lend a helping hand," said Sadhan Bose.
The newly formed club will come into existence from June 1 and will be a part of the ISL from the 2020-21 season.