Swiss club FC Basel have picked up a stake in Chennai City FC and will assist the club with grassroots development.
The holding company, FC Basel Holding AG have picked up a 26% stake in Chennai City FC and the investment capital is reportedly around € 20 million.
Basel are a giant in Swiss football having won the league title 20 times and are a regular feature in the UEFA Champions League and Europa League. They will work with Chennai City in developing, training and scouting local talent and will set up a youth academy in Coimbatore. They are also expected to launch soccer schools in Tamil Nadu.
Chennai City FC have defied odds and are on top of the I-League table under the coach Akbar Nawas. This is only their third season in the competition and they have finished 8th in their last two campaigns. If they do they end up winning the league, they will have a chance to compete in the AFC Champions League.
The partnership was announced in New Delhi today at a joint press conference between the clubs’ representatives. The FC Basel president Bernhard Burgener, CEO Roland Heri and the Chennai City FC president and co-owner Rohit Ramesh were present to brief the press.