City Football Group has acquired a majority stake in its eighth football club. The group, which owns Manchester City, has agreed a deal to take a 65% stake in Mumbai City FC in the Indian Super League.
CFG also has majority or minority stakes in New York City in the United States, Melbourne City in Australia, Yokohama F Marinos in Japan, Club Atlético Torque in Uruguay, Girona in Spain and Sichuan Jiuniu in China.
CFG’s chairman Khaldoon al-Mubarak 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.
“We are very much looking forward to playing an active role in Mumbai City FC’s fan and local communities, and working with our co-owners to further develop the club as quickly as possible.”
Quick guide
City Football Group’s global portfolio
Manchester City FC (England)
New York City FC (USA)
Melbourne City FC (Australia)
Yokohama F Marinos (Japan)
Club Atlético Torque (Uruguay)
Girona FC (Spain)
Sichuan Jiuniu (China)
Mumbai City FC (India)
On Wednesday CFG announced that American technology firm Silver Lake had acquired a 10% stake in its business, taking its total value to £3.73bn.
