Kathmandu, August 24:

Nabil Bank Limited and Three Star Club have joined hands together for the betterment of the bank and the club. Anil Shah, CEO of the bank, and Lalit Krishna Shrestha, president of the club, signed the Memorandum of Understanding at the ‘Alliance Agreement Signing Ceremony’ here today.

As per the one-year agreement, Nabil Bank will give Three Star Rs 800,000 in three instalments — 50 percent at the moment, 25 per cent after six years and the remaining 25 per cent after 12 months — for the betterment of the club. The players will have to wear a jersey having the logo of the bank while playing in the tournaments throughout the year and the club will be named ‘Nabil Three Star Club’, as stated in the agreement. Amrit Shrestha, Country Head Credit, Nabil Bank and Shrawan Maskey, Country Head Business Bank, Nabil Bank, on behalf of the bank, and Ganesh Thapa, president of All Nepal Football Association, and Arun Man Joshi, general secretary of Three Star Club, on behalf of the club, signed the agreement as witnesses.

“We have just opened the door, and we would like other corporate houses to come forward to pick other clubs,” said Singh. “This is not an agreement, in which one side gives a cheque and other side spend as per their interest,” Singh said. “We are alliance partner, which involves a much deeper relationship than just signing a cheque and giving a quantum of money to display our logo,” he added. Now, the club will not be able to make any contract with any other banks or financial institutions. And the bank can use Three Star players for its promotional campaigns.

ANFA president Thapa said: “This is an historic moment for all of us. The move will not only enlighten the forthcoming league, but also help in professionalising the Nepali football.”

Thanking the bank for their remarkable effort towards the development of the sport, TSC president Shrestha said: “The move has added more fuel in us, which will always guide us towards success.” President of Nepal Sports Journalists Forum Niranjan Rajbanshi, and TSC general secretary Joshi also spoke on the occasion.