Manchester City owners City Football Group take majority stake in Indian club Mumbai City
Manchester City’s owners, the City Football Group (CFG), have bought a majority stake in Mumbai City FC, making them the eighth team in the group network.
The group, who’ve agreed a deal to take a 65 per cent share of the Indian Super League side, also has majority stakes in New York in the USA, Melbourne City at Australia, Yokohama F. Marinos in Japan, Club Atletico Torque at Uruguay, Girona in Spain along with Sichuan Jiuniu in China.
CFG chairman Khaldoon Al Mubarak said in a statement:”We believe that this investment will deliver transformative benefits into Mumbai City FC, to City Football Group and to Indian Soccer as a whole.
“City Football Group is dedicated to the future of football in India and to the possibility of Mumbai City FC within that future.
“We are extremely much looking forward to enjoying an active role in Mumbai City FC’s fan and neighborhood communities, and working together with our co-owners to further develop the club as quickly as possible.”
Film and actor manufacturer Ranbir Kapoor will stay alongside Bimal Parekh at Mumbai City as a minority shareholder.
The group is seventh in the Super League following tackling five points this season.