Shree Cement has decided not to invest any further until and unless the club signs on the final agreement…

East Bengal’s talismanic German midfielder Matti Steinmann has mutually terminated his contract and has left the club, Goal can confirm.

Steinmann, who had signed a two-year contract with the Red and Golds last season, has decided to end his association with the club after just one season.

Why is Steinmann leaving? 

He would have received a salary hike in the second season if he stayed but he is leaving the club due to the ongoing tussle between the club officials and investors Shree Cement Limited over the signing of the final agreement.

Goal had earlier revealed that the German was in talks with his former club in the A-League Wellington Phoenix and was set to leave the club.

The former Hamburg midfielder was one of the finest performers for the Kolkata giants in the Indian Super League (ISL) last season with four goals and three assists in 17 matches. Thus, his departure will be a big blow for the team.

Along with Steinmann, another fan favourite and star player Bright Enobakhare is also on the verge of leaving the Red and Golds. The Nigerian attacker, who had joined, the club in the January transfer window on a short-term deal, was eager to extend his stay with the club for the upcoming season but due to the uncertainty, it seems that Enobakhare is also on his way out of the club.

What happened at East Bengal?

On March 24, Shree Cement had sent out an ultimatum to the club officials regarding their signature on the final agreement between the two parties. They had also attached the term sheet based on which the final agreement was drafted.

Anthony Pilkington, Odisha vs East Bengal

Anthony Pilkington, Odisha vs East Bengal

The term sheet was signed by both parties in September 2020 on the basis of which the club’s sporting rights as well all its assets and properties (including intellectual) were transferred to the newly formed company Shree Cement East Bengal Foundation – a Joint Venture between the two parties.

The East Bengal club officials, on the other hand, have maintained the stance that a few clauses in the final agreement differ from the term sheet. But the investor continues to refute their claims.

According to sources close to Goal, the investors have decided not to invest or enter into fresh contracts with any person until the final agreement is signed.