Tata Steel transfers Jamshedpur FC ownership to Churchill Brothers for ₹100
Tata Steel agreed on August 14 to transfer its entire 100% stake in Jamshedpur Football and Sporting Private Limited (JFSPL), the company that owns Jamshedpur FC, to Churchill Brothers for a nominal ₹100. The Committee of Directors approved the transfer and a share purchase agreement was signed on the same day.
Jamshedpur FC was established in 2017 and won the League Shield in the 2021-22 season. On July 31 the club announced it would not participate in the Indian Super League (ISL) 2026-27 season and said it would continue supporting football development, particularly at the grassroots level. Tata Steel framed the decision as a reorientation of its professional club involvement while maintaining commitments to youth development.
Tata Steel holds 4.08 crore equity shares in JFSPL, which reported revenue of ₹32.23 crore in FY2025-26 and a negative net worth of ₹5.8 crore as of March 31, 2026; that financial position underpinned the company’s exit for the nominal cash consideration of ₹100. Tata Steel also confirmed Churchill Brothers is not connected to its promoter or promoter group, so the transaction does not constitute a related-party deal.
The share purchase agreement signed August 14 envisages completion of the transaction by August 31, subject to All India Football Federation (AIFF) approval and other customary conditions. The agreement provides for Churchill Brothers to take control of JFSPL and assume the club’s ISL sporting licence. The transfer will include the contracts of 12 players and two coaches, which Churchill Brothers will take over from September 2026.
Churchill Brothers, based in Goa, has been a long-standing name in Indian football and has won the I-League twice. In the 2024-25 I-League season Churchill initially finished top and were awarded the championship before Inter Kashi challenged the outcome; the dispute reached the Court of Arbitration for Sport, which ruled in favour of Inter Kashi and restored their points, costing Churchill the automatic promotion opportunity. Churchill subsequently sought entry to the ISL, faced opposition from existing clubs and the AIFF, and were later demoted to I-League 2 after opting out of the 2025-26 I-League.
D. B. Sundara Ramam, Vice President, Corporate Services, Tata Steel, said: “Churchill Brothers is a club with real history in Indian football, and we are glad that this agreement gives our players and coaches the opportunity to continue playing club football. We thank AIFF and Churchill Brothers for their partnership in making this transition a smooth one.” He added: “Tata Steel will continue to focus on football at the grassroots and youth level, given our legacy of identifying and nurturing young talent, especially among local and tribal communities. This includes the Tata Football Academy, which has trained 150 cadets who have represented India and 26 captains of national teams across various age groups. We will continue to maintain and enhance our sporting infrastructure – repurposing it for grassroots football and athlete development. We will be modernising our youth system, investing in and further building its capability in collaboration with the AIFF.”
If the AIFF grants the necessary approvals and other formalities are completed, the transaction is expected to close by August 31 and Churchill Brothers will assume the ISL sporting licence and the contracts of 12 players and two coaches from September 2026, allowing those personnel to continue their professional careers within the league framework.