The team partners -- Atletico Madrid -- are finalising the deal with a top European player and manager to fill up the two top positions, while they are also in the process of roping in two of the seven international players before the June 30 deadline.
The team's unveiling will take place in the presence of West Bengal Chief Minister Mamata Banerjee and it is also learnt that top officials of the Spanish giants including coach Diego Simeone could be present on the occasion.
He, however, refused to divulge any name as the discussions were still on with top European footballers to meet the deadline for the IMG-Reliance backed tournament.
"The negotiations are on and we have shortlisted a few names from the European football. We'll be able to finalise them by next week to meet the deadline. We'll also unveil the team's jersey on July 7," he said.
"We have met the Chief Minister and are getting full support. She will be there during the team unveiling," Parekh said.