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City owners expand global portfolio with Mumbai deal
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Manchester City’s Abu Dhabi ownership has expanded its portfolio of worldwide soccer clubs to eight by buying a majority stake in Indian Super League team Mumbai City FC.
City Football Group, of which English champion Manchester City is the flagship team, says it has acquired 65 percent of the Indian club. CFG already has the following partnership clubs: New York City in Major League Soccer, Melbourne City in Australia’s A-League, Girona in Spain’s top division, Yokohama F Marinos in Japan, Sichuan Jiuniu in China, and Club Atletico Torque in Uruguay. The group also has a “collaboration agreement” with Venezuelan team Atletico Venezuela. Mumbai FC, which is co-owned by Bollywood actor Ranbir Kapoor, is in its sixth season in the ISL and has an 8,000-capacity stadium, the Mumbai Football Arena. The deal was announced just a day after CFG agreed to sell a US$500-million stake to US private equity firm Silver Lake, making it the world’s most valuable soccer group with a US$4.8-billion price tag.
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