PANAJI: Tata Steel on Friday approved the sale of its entire 100% stake in Jamshedpur Football and Sporting Pvt Ltd (JFSPL), the company that owns Jamshedpur FC, to Goa-based Churchill Brothers Sports Club for a nominal token consideration of Rs 100.
The decision was approved by Tata Steel’s Committee of Directors overseeing the divestment at its meeting. The stake comprises 4.08 crore equity shares, which will be transferred to Churchill Brothers under a Share Purchase Agreement signed by both parties.
The transaction is subject to certain conditions, including approval from the All India Football Federation (AIFF) and completion of customary formalities. Tata Steel said the deal is expected to be completed by August 31, subject to fulfilment of the conditions.
Under the agreement, Jamshedpur FC’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 12 Jamshedpur FC players and two coaches from September 2026, allowing them to continue their professional careers in the ISL.
DB Sundara Ramam, Vice President, Corporate Services, Tata Steel, said the agreement would enable the club’s players and coaches to continue their professional football careers. “Through this agreement, the players and coaches of Jamshedpur FC will have an opportunity to continue their professional football careers,” Ramam said.
Churchill Brothers, based in Goa, has been a prominent name in Indian football for nearly four decades and has won two I-League titles. Tata Steel said Churchill Brothers is neither related to the company’s promoter nor its promoter group and that the transaction does not constitute a related-party transaction.
According to Tata Steel’s regulatory filing, JFSPL reported revenue of ₹32.23 crore in FY26, equivalent to around 0.01% of Tata Steel’s consolidated turnover. The football subsidiary had a negative net worth of ₹5.8 crore as of March 31, 2026.
Tata Steel said it would continue its focus on football at the grassroots and youth levels, particularly on identifying and nurturing talent from local and tribal communities. The company also highlighted the legacy of the Tata Football Academy, established in Jamshedpur in 1987. The academy has trained more than 300 cadets, with 150 going on to represent the Indian national team.
The development comes as Tata Steel continues to restructure its involvement in professional football while retaining its focus on grassroots development and talent identification.
Tata Steel shares were trading 1.1% lower at Rs 182.85 at 1 pm on Friday. The stock has declined 2.9% over the past month but remains up 0.5% so far this year.
