East Bengal today picked the bid documents to buy an Indian Super League franchise while Mohun Bagan were expected to follow suit.
"We have collected the (Invitation to Bid) documents in Mumbai. But this does not guarantee our participation. We can not take a plunge in the sea without assessing what's on offer. We will study it and then details will follow," East Bengal general secretariat Kalyan Majumdar said.
Mohun Bagan general secretary Anjan Mitra said they're yet to decide and the "discussions are on".
However, a source closely tracking the development said they have been in discussions for three months.
"They know what ITB holds for them. It's about making the call," he said, saying "two international clubs from Europe have also shown interest in ITB and had discussion with ISL office."
Football Sports Development Limited, the ISL organisers, have floated the tender through 'Invitation to Bid' on May 12 and the deadline for submission of documents is May 25. One to three teams can be chosen to take part in the ISL from this season.