JSW seeks more time to decide

JSW seeks more time to decide

JSW seeks more time to decide
JSW Group have sought a 15-day extension to convey their decision on whether they would like to rebuild the Bangalore Football Stadium after Karnataka State Football Association rejected their major demand of a ‘sub-lease’ agreement.

Chosen by the KSFA to rebuild the stadium ahead of the 2017 FIFA U-17 World Cup, JSW apparently demanded the venue be sub-leased to them for 25 years as a return for their huge investment. That, however, did not go too well with the KSFA, who immediately shot down the idea and asked JSW to have a rethink on their demands.

“We had initially given JSW time until today but they sent a letter to us requesting an extension of the deadline by 15 days, said KSFA president AR Khaleel on Tuesday.

“I want to make one thing very clear, there won’t be any sub-lease agreement with JSW which has been their major demand. They can build the stadium and live as tenants.

“JSW is asking for a 25-year sub-lease after which they will hand over the stadium to us. That’s not possible as it is against the law. By becoming owners they can prevent us also from entering the stadium,” added Khaleel.

KSFA chief patron and MLA NA Harris said while JSW can operate the stadium, the ownership will lie with the association. “

We’ll give them the right to operate the stadium. But we can’t allow them to own the property. They are investing a huge sum as we respect that. So, we have told them that they can live as tenants for 25 years and operate it. The stadium, though, will be under KSFA’s charge.”