Tata Steel Sells Football Subsidiary for ₹100
Churchill Brothers acquires Jamshedpur FC's Indian Super League licence and player contracts in a deal that raises questions over the league's commercial viability
Tata Steel has divested its entire 100% stake in Jamshedpur Football and Sporting Private Limited (JFSPL) to Churchill Brothers Sports Club Private Limited for a nominal sum of ₹100. The transaction includes the transfer of Jamshedpur FC's Indian Super League (ISL) sporting licence, along with contracts of its players and coaching staff.
The deal sees Churchill Brothers take over the contracts of 12 players and two coaches from September 2026. Tata Steel holds 4.08 crore shares in JFSPL, which had a turnover of ₹32.23 crore in FY26.
Tata Steel's decision to exit the Indian Super League comes as the league faces growing questions over its commercial viability. The ISL media-rights value has fallen from ₹275 crore a year to ₹8.6 crore, with other major exits and restructuring also taking place. Manchester City owner City Football Group exited Mumbai City FC last year, while the 15-year commercial agreement between Football Sports Development Limited and AIFF ended after a prolonged dispute over the league's commercial structure.
## Why it matters The deal has significant implications for the Indian football ecosystem, which has invested heavily over 15 years while incurring losses of more than ₹5,000 crore. Despite this, Tata Steel has stated that it will continue investing in grassroots and youth football, particularly among local and tribal communities. The company's Tata Football Academy, established in 1987, has trained more than 300 cadets, with 150 going on to represent India.
The acquisition by Churchill Brothers, a Goa-based club with nearly four decades of history, will see the team take over the reins of Jamshedpur FC. Churchill Brothers has won the I-League twice and will look to build on this success in the ISL.
Tata Steel's exit from the ISL has raised concerns over the league's future, but the company's continued investment in grassroots football suggests a commitment to developing the sport in India. As the Indian football ecosystem navigates this period of uncertainty, the deal between Tata Steel and Churchill Brothers will be closely watched by fans and stakeholders alike.
