India's Tata Steel sells Jamshedpur FC for token sum of $1

Tata Steel said Friday it has sold its entire stake in Indian Super League club Jamshedpur FC to Churchill Brothers for a nominal fee, days after announcing its exit from the top-flight competition.

Aug 14 : Tata Steel sold all its stake in Indian Super League side Jamshedpur FC to Goa-based club Churchill Brothers for a token amount of 100 Indian rupees ($1.05) on Friday, two weeks after the conglomerate announced it was pulling out of the ISL.Twice national league champions Churchill Brothers will take over Jams

The Tata Football Academy was established in Jamshedpur in 1987. According to the company, it has trained more than 300 cadets.

Tata Steel has officially sanctioned the sale of its entire ownership stake in Jamshedpur FC for a minimal price. The agreement includes the transfer of the ISL sporting rights to Churchill Brothers Sports Club, as well as the contracts for players and coaching staff, which will move to the Goa-based club starting Sept