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Tata Steel on Friday, August 14, said it has approved the sale of its entire stake in Jamshedpur Football and Sporting (JFSPL), which owns Jamshedpur FC, to Churchill Brothers Sports Club for a nominal consideration of ₹100.
Tata Steel’s Committee of Directors, set up to oversee the divestment, approved the transfer of its entire 100% stake in Jamshedpur Football and Sporting (JFSPL) at a meeting on August 14, the company said.
The stake comprises 4.08 crore equity shares and will be transferred to Churchill Brothers Sports Club. Tata Steel and Churchill Brothers have also signed a Share Purchase Agreement outlining the terms of the transaction.
The deal remains subject to certain conditions, including approval from the All India Football Federation (AIFF) and completion of other customary formalities. The transaction is expected to be completed by August 31, subject to fulfilment of the conditions.
Jamshedpur FC's ISL licence, players to move to Churchill Brothers
As part of the transaction, the club's Indian Super League (ISL) sporting licence will be transferred to Churchill Brothers in accordance with AIFF regulations.
Churchill Brothers will also take over the contracts of Jamshedpur FC's 12 players and two coaches from September 2026, giving them an opportunity to continue their professional careers in the ISL.
Churchill Brothers Football Club, based in Goa, is part of Indian football's history for nearly four decades and has won two I-League titles.
Tata Steel said Churchill Brothers is not related to its promoter or promoter group and the transaction does not constitute a related-party transaction.
JFSPL reported revenue of ₹32.23 crore in FY26, equivalent to around 0.01% of Tata Steel's consolidated turnover, according to the company's regulatory filing.
The football subsidiary had a net worth of negative ₹5.8 crore as of March 31, 2026.
DB Sundara Ramam, Vice President, Corporate Services, Tata Steel, said the agreement would allow Jamshedpur FC's players and coaches to continue their professional football careers.
Tata Steel said it will continue to focus on football at the grassroots and youth levels, particularly on identifying and nurturing talent from local and tribal communities.
The company said the Tata Football Academy, established in Jamshedpur in 1987, has trained more than 300 cadets, with 150 having represented the Indian national team.
Tata Steel shares were down 1.1% at ₹182.85 apiece at 1 pm on Friday. The stock has declined 2.9% in the past month but is up 0.5% this year, so far.
Also Read: Piramal Pharma block deal likely cancelled; stock falls 3%
Tata Steel’s Committee of Directors, set up to oversee the divestment, approved the transfer of its entire 100% stake in Jamshedpur Football and Sporting (JFSPL) at a meeting on August 14, the company said.
The stake comprises 4.08 crore equity shares and will be transferred to Churchill Brothers Sports Club. Tata Steel and Churchill Brothers have also signed a Share Purchase Agreement outlining the terms of the transaction.
The deal remains subject to certain conditions, including approval from the All India Football Federation (AIFF) and completion of other customary formalities. The transaction is expected to be completed by August 31, subject to fulfilment of the conditions.
Jamshedpur FC's ISL licence, players to move to Churchill Brothers
As part of the transaction, the club's Indian Super League (ISL) sporting licence will be transferred to Churchill Brothers in accordance with AIFF regulations.
Churchill Brothers will also take over the contracts of Jamshedpur FC's 12 players and two coaches from September 2026, giving them an opportunity to continue their professional careers in the ISL.
Churchill Brothers Football Club, based in Goa, is part of Indian football's history for nearly four decades and has won two I-League titles.
Tata Steel said Churchill Brothers is not related to its promoter or promoter group and the transaction does not constitute a related-party transaction.
Jamshedpur FC financials
JFSPL reported revenue of ₹32.23 crore in FY26, equivalent to around 0.01% of Tata Steel's consolidated turnover, according to the company's regulatory filing.
The football subsidiary had a net worth of negative ₹5.8 crore as of March 31, 2026.
DB Sundara Ramam, Vice President, Corporate Services, Tata Steel, said the agreement would allow Jamshedpur FC's players and coaches to continue their professional football careers.
Tata Steel said it will continue to focus on football at the grassroots and youth levels, particularly on identifying and nurturing talent from local and tribal communities.
The company said the Tata Football Academy, established in Jamshedpur in 1987, has trained more than 300 cadets, with 150 having represented the Indian national team.
Tata Steel shares were down 1.1% at ₹182.85 apiece at 1 pm on Friday. The stock has declined 2.9% in the past month but is up 0.5% this year, so far.
Also Read: Piramal Pharma block deal likely cancelled; stock falls 3%
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