Sports

Manchester City FC owners pick 65% stake in Mumbai Football Club

Our Bureau Mumbai | Updated on November 28, 2019 Published on November 28, 2019

City Football Group (CFG), the owners of Manchester City FC, has acquired a majority stake Mumbai City FC in the Indian Super League.

Existing shareholders, actor and film producer, Ranbir Kapoor and Bimal Parekh who combined will hold the remaining 35 per cent of shares.

CFG has total or partial ownership of seven clubs in major cities across the world: Premier League Champions Manchester City in the UK, New York City FC in the US, Melbourne FC in Australia, Yokohama F. Marinos in Japan, Club Atletico Torque in Uruguay, Girona Futbol Club in Spain and Sichuan Jiuniu FC in China.

The Indian acquisition was revealed today by CFG Chief Executive Officer, Ferran Soriano together with Chairperson, Football Sports Development Limited and Reliance Foundation, Nita Ambani.

“The deal will see Mumbai City FC benefit from the Group’s commercial and football know-how, whilst at the same time delivering a new and exciting element to the CFG global commercial platform,” said a press statement.

Nita Ambani said: “It’s a landmark occasion that celebrates the remarkable rise of Indian football and brings to life our vision for the beautiful game in India. It is a great endorsement of the increasing appeal of Indian football.”

Chairman of City Football Group Khaldoon Al Mumbarak said: “We believe that this investment will deliver transformative benefits to Mumbai City FC, to City Football Group and to Indian Football as a whole. City Football Group is committed to the future of football in India and to the potential for Mumbai City FC within that future.

Published on November 28, 2019
football
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