Tata Steel has sold its entire 100 per cent stake in Jamshedpur FC to Goa-based Churchill Brothers Sports Club for a token ₹100, marking the company’s exit from ownership of an Indian Super League (ISL) club.
The transaction was approved by Tata Steel on Friday. The company will transfer its 4.08 crore shares in Jamshedpur Football and Sporting Private Limited (JFSPL), which operates the club, to Churchill Brothers.
The deal is subject to approvals from the All India Football Federation (AIFF) and other customary clearances. It is expected to be completed by August 31.
What does the Rs 100 deal include?
The transfer covers Jamshedpur FC’s ISL sporting licence, along with contracts involving 12 players and two coaches. Churchill Brothers will take over these contracts from September 2026.
The ₹100 price tag, however, does not represent a conventional valuation of a profitable football franchise. JFSPL reported a turnover of ₹32.23 crore in FY26, but its net worth stood at a negative ₹5.8 crore as of March 2026.
The transfer comes as Indian football’s top league faces questions over its commercial and financial model.
Why is Tata Steel leaving the ISL?
Tata Steel is stepping away from ownership of a top-flight club but plans to continue its involvement in football through grassroots and youth development.
The company has said it will continue supporting football, particularly among local and tribal communities, while retaining and repurposing its sporting infrastructure for grassroots programmes.
The Tata Football Academy was established in Jamshedpur in 1987. According to the company, it has trained more than 300 cadets, with 150 going on to represent India.
Jamshedpur FC was launched in 2017 after Tata Steel successfully bid for an ISL franchise. The club plays its home matches at the JRD Tata Sports Complex, popularly known as 'The Furnace'.
Churchill Brothers gets ISL return
For Churchill Brothers, the deal provides a route back into the ISL. The Goa-based club has nearly four decades of history and has won the I-League twice.
Commenting on Tata Steel's exit, Abhishek Bhilwaria, Partner at BhilwariaFinserv, said, "Tata Steel's exit from the ISL for a nominal fee of Rs 100 is a striking reflection of the commercial headwinds facing Indian club football. By transferring the licence and contracts to Churchill Brothers, they have responsibly protected the livelihoods of their players and staff while signaling a clear shift away from high-cost commercial league structures back to pure grassroots development."