The BC Jindal Group, one of India’s major multinational corporations, is scheduled to acquire Hyderabad FC (HFC), the Indian Super League (ISL) club that has recently been engaged in financial difficulties, as per reports.
In recent times, FIFA and the All India Football Federation (AIFF) imposed various fines on the Nizams for unpaid payments owing to players, coaches, and support staff. The club’s former investors suffered with unpredictable financial situations, resulting in unpaid salaries for several months. Nevertheless, with this fresh onset, the future of Hyderabad FC looks bright.
According to insiders, the new investors have committed to settle all debts. This action is quite crucial, as it will allow the Hyderabad-based team to be released from the sanctions set forth by FIFA and the AIFF. Once the sanctions are lifted, HFC will concentrate on team development and preparations for the forthcoming ISL 2024–25 season. This is a big turning point for the club, which has been trying to stay alive amid serious financial difficulties.
Prior to the start of the Durand Cup, the club was said to be in preliminary negotiations with an investor group. Nevertheless, the talks failed, and the club failed to compete in the renowned event due to a shortage of available players. The players refused to play without receiving their salary, exacerbating the club’s problems. Now that the BC Jindal Group has stepped in, the scenario looks to be stabilising. The new investors are dedicated to paying off all previous dues and investing in the club’s future operations.
According to a source close to the club, this will be a full buyout, with the former owners leaving completely.
For now, the unit will keep functioning under the name Hyderabad FC, with the same emblem and home stadium, with no intentions to relocate. Notwithstanding the favourable conditions, the new investors will confront a difficult assignment in the lead-up to the ISL season. The club’s economic difficulties have resulted in several FIFA and AIFF bans, and the immediate goal will be to pay off every debt it has in order to lift the sanctions. Once the financial concerns are rectified, the primary objective will shift to developing a competitive side capable of excelling in the ISL.
With the ISL set to begin in a month’s time, the BC Jindal Group’s acquisition is a positive news for the traditional football fans in Hyderabad, who would want to see their team play at the highest level.