"It's a very positive development for Indian football, though it's only the first step," said Ganguly, who has won the bid for the franchise along with industrialists Harshavardhan Neotia and Sanjiv Goenka, merchant banking and financial services expert Utsav Parekh and Spanish premier league side Atletico Madrid.

The entire scheme provided a world of opportunities for Indian football, but there was a need to create a strong fan base for the franchises, he said.

Ganguly said a meeting would be held shortly with Atletico Madrid officials to finalise the arrangements with the Spanish club.


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