Club President Prem Thapa and Cabinet Shrestha, managing director (MD) of the Agni Incorporated, signed the memorandum of understanding (MOU), which states that the club will be named Mahindra Bansbari Club after the deal.[break]
President Thapa said that the club has annual budget of Rs 3.5 million and Agni Incorporated would provide almost 50 percent of the budget. However, both the parties refused to disclose exact sponsorship amount. "We´ll get support in cash and kind and other assistance but we are unable to disclose the amount due to some technicality," said Thapa.
Thapa said that the deal has encouraged club management. "We have a tragic history of reaching A-division and facing relegation right after one season. We now want to change the tragic history. We are looking forward to remain within the top 10 in the upcoming season," said Thapa.
MD Shrestha said Agni Incorporated picked Bansbari since it was a new club in A-division and without any sponsorship.
Chief-guest of the signing ceremony, All Nepal Football Association (ANFA) President Ganesh Thapa claimed that corporate houses are joining hands in the development of football following the ANFA´s ambitious program of organizing San Miguel National League.
ANFA President Thapa and Agni´s MD Shrestha handed over jerseys to team Captain Niran Bista and Vice-captain Bharat Lama at the same function. Bansbari will sport red jersey in Kathmandu and blue jersey on away matches.
Nepal Yuva Jagriti Club, established 30 years ago, was renamed Bansbari Club two years later. Bansbari was promoted to A-division two-years ago but they are yet to compete in the A-division league. This is the third time that Bansbari has been promoted to the A-division.
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