True, he did say that. But he also said that there is no deadline for EB to join ISL. Whenever there will be a formal application from EB to join ISL, FSDL will open the bidding process.
Now for EB to make that application, they have to show that they can pay the annual franchise fee of 15 crore and meet other requirements for playing in ISL. For that they need a new investor. The new investor cannot be announced unless the football rights are officially returned to EB which can take place only after 31 May. So, technically speaking EB can make an application only after 31 May provided, of course, they get an investor.
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Bengal CM dials AIFF chief for East Bengal's ISL-call
Now for EB to make that application, they have to show that they can pay the annual franchise fee of 15 crore and meet other requirements for playing in ISL. For that they need a new investor. The new investor cannot be announced unless the football rights are officially returned to EB which can take place only after 31 May. So, technically speaking EB can make an application only after 31 May provided, of course, they get an investor.