The BC Jindal Group, one of India’s leading conglomerates, is all set to take over Hyderabad FC, a club that has recently been embroiled in financial turmoil and was on the brink of shutting down.
The Hyderabad-based football club faced multiple sanctions from Fifa and the All India Football Federation (AIFF) due to outstanding dues owed to players, coaches and support staff. The club’s previous investors struggled with unstable financial conditions, resulting in salaries not being paid for several months. However, with this new development, the future of Hyderabad FC looks promising.
According to sources close to the development, the BC Jindal Group has already signed the term sheet, and an official announcement regarding the takeover is expected soon. The new investors have agreed to clear all outstanding dues, with payments expected to begin as early as next week. This move is critical, as it will enable the club to set itself free from the bans imposed by FIFA and AIFF due to the long-standing financial obligations.
Once the bans are lifted, Hyderabad FC will shift their focus to team-building and preparations for the upcoming Indian Super League (ISL) 2024-25 season. This marks a significant turning point for the club, which has been struggling to stay afloat amid severe financial distress.
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The club was reportedly in advanced discussions with a consortium of investors before the start of the Durand Cup. However, the talks fell through, and Hyderabad FC were unable to participate in the prestigious tournament due to a lack of available players. The players were reportedly unwilling to play without receiving their salaries, which further compounded the club’s challenges.
Now, with the BC Jindal Group stepping in, the situation appears to be stabilising. The new investors are committed to clearing all past dues and investing in the club’s future operations. A source close to the club has confirmed that this will be a complete buyout, with the previous owners stepping away entirely. The club will continue to operate under the name Hyderabad FC and will retain its existing logo and home stadium, with no plans to relocate.
Despite the positive developments, the new investors face an uphill task in the run-up to the ISL season. The club’s financial struggles have led to multiple bans from FIFA and the AIFF, and the immediate priority will be to clear all outstanding dues to lift the sanctions. Once the financial issues are resolved, the focus will shift to building a competitive squad capable of performing well in the ISL.
In conclusion, the BC Jindal Group’s takeover of Hyderabad FC brings hope for a brighter future for the club with the official announcement appears imminent.