Tata Steel has approved the transfer of its complete ownership of Jamshedpur Football and Sporting (JFSPL), the company that owns Jamshedpur FC, to Churchill Brothers Sports Club for a nominal consideration of Rs 100. The decision was taken by Tata Steel’s Committee of Directors responsible for overseeing the divestment at its meeting on Friday, August 14. The transaction involves 4.08 crore equity shares, representing Tata Steel’s entire 100 per cent holding in JFSPL.

Tata Steel and Churchill Brothers have entered into a Share Purchase Agreement that sets out the terms and conditions of the proposed transaction. The transfer, however, is not unconditional and will require the fulfilment of certain regulatory and other requirements.

The proposed ownership change is subject to approval from the All India Football Federation (AIFF), along with the completion of other customary conditions associated with the transaction.

According to Tata Steel’s regulatory filing, the transaction is expected to be completed by August 31, provided all the necessary conditions are met.

As part of the arrangement, Jamshedpur FC’s Indian Super League sporting licence will also move to Churchill Brothers, in line with the applicable AIFF regulations. This will enable the Goa-based football club to take charge of the ISL team under the new ownership structure.

Players And Coaches To Move To New Owner

The transaction will also cover the professional contracts of Jamshedpur FC personnel. Churchill Brothers will assume the contracts of 12 players and two coaches from September 2026. The move is expected to allow the players and coaching staff to continue their professional careers in the Indian Super League even after the change in ownership.

DB Sundara Ramam, Vice President, Corporate Services, Tata Steel, said the agreement would allow Jamshedpur FC’s players and coaches to continue their professional football careers.

Churchill Brothers Football Club, which is based in Goa, has been a part of Indian football for close to four decades. The club has also secured two I-League titles during its history.

Tata Steel clarified that Churchill Brothers has no connection with its promoter or promoter group. It also said the proposed transaction does not fall under the category of a related-party transaction.

Jamshedpur FC Financial Position

The regulatory filing also provides an indication of the size of JFSPL within Tata Steel’s overall business. The football subsidiary generated revenue of Rs 32.23 crore during FY26, which accounted for approximately 0.01 per cent of Tata Steel’s consolidated turnover.

JFSPL’s financial position remained challenging, with the company reporting a negative net worth of Rs 5.8 crore as of March 31, 2026. The sale therefore marks a change in the ownership of Jamshedpur FC, while Tata Steel has indicated that its broader involvement in football will continue through grassroots and youth development initiatives.

Tata Steel To Continue Grassroots Football Focus

Although Tata Steel is exiting its direct ownership of Jamshedpur FC, the company said its commitment to football development will remain focused on grassroots and youth programmes. A key part of that effort is the Tata Football Academy in Jamshedpur, which was established in 1987. Tata Steel said the academy has trained more than 300 cadets over the years, with 150 of them going on to represent the Indian national team.

The company plans to continue identifying and developing football talent, with particular attention to players from local and tribal communities.