"We have plans to set up a football academy, spearhead by a renowned coach and also provide better infrastructure to the youth in the vicinity," Sajjan Jindal, owner of the Bangalore-based team, said in a statement.
"JSW also aim to attract the crowds back to the stadium."
The All India Football Federation (AIFF) paved the way for JSW and Mumbai Tigers to debut in I-League 2013-14.
"We believe these are exciting times for Indian football and are happy to be entering the league at this stage. We would like to thank the All India Football Federation for awarding us the Bangalore franchise.
"The popularity of football is growing rapidly in India and we are excited at the opportunity to do our bit to enhance the standards of the beautiful game. In keeping with JSW philosophy of building a strong India, we hope to build a strong and successful football franchise," Jindal stated.