India's Tata Steel offload top-flight club Jamshedpur for $1

Tata Steel has divested its remaining stake in Indian Super League side Jamshedpur FC to Goa-based club Churchill Brothers for a nominal sum of 100 Indian rupees ($1.05), following the conglomerate's announcement of its exit from the ISL two weeks prior. The clubs' 12 players and two coaches will maintain their contracts under the new ownership.

Tata Steel's vice president of corporate services, D. B. Sundara Ramam, expressed relief that the agreement allows the players and coaches to continue their club football careers. In February, Jamshedpur players had implored the club's owners to reconsider closing the team, which had won the ISL League Winners' Shield in the 2021-22 season and the domestic Super Cup in 2023.

The club's fans had also protested, but Friday's announcement ended their efforts. Jamshedpur, located in the Eastern state of Jharkhand, will now join Churchill Brothers, based in the soccer-obsessed state of Goa, nearly 2000 km away. The club, which joined the ISL in 2017, is still participating in the domestic Durand Cup, where it will face Mohun Bagan in the quarter-finals on Monday.

Tata Steel's departure comes less than a year after the All India Football Federation's commercial partnership with Reliance ended. The ISL has yet to release the fixtures and broadcaster for the upcoming season. Tata Steel thanked the AIFF and Churchill Brothers for facilitating a smooth transition. Churchill Brothers, who last participated in the ISL in the 2013-14 season, had hoped to secure a promotion after topping the I-League in the 2024-25 season.

However, the Court of Arbitration for Sport overturned Inter Kashi's points deduction, allowing them to claim the title instead. Churchill Brothers withdrew from the league the following season, expressing their eagerness to return to the top flight.