"There is no clarity on how many foreign players may be taken in the team. We are also not aware whether either ISL or FIFA will allow them," Harsh Neotia, co-owner of the Kolkata team, told PTI.
Co-owners of Kolkata team, which had partnered with Atletico Madrid, today held a meeting with a delegation of the leading Spanish club led by its CEO Miguel Angel to discuss the various aspects involved in running the franchisee.
He said that nothing had been finalised yet. "Hope things will become clearer by tomorrow," he said.
Neotia said that four or five names had been sent to the Registrar of Companies for incorporation.
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"The attachment of Atletico with the club name is also a possibility. We are not aware what conditions will the Spanish club lay down if their name is attached," he said.
"It is to our advantage that the Spanish club has come and joined us since they have great experience in the sport," Neotia said.
The five partners of the Kolkata franchisee are Atletico (25 per cent shareholding), Sanjiv Goenka (40 per cent), Harsh Neotia (20 per cent), Utsav Parekh (10 per cent) and former Indian skipper Sourav Ganguly (five per cent).