MUMBAI (India): Manchester City’s parent company City Football Group had bought a majority stake in Mumbai City FC (MCFC), the club said in a statement on Thursday.
“City Football Group (CFG) has agreed a deal to acquire a majority stake in its eighth club, Mumbai City FC in Indian Super League, marking a major move into Indian football,” the group said.
New York City, Melbourne City, Yokohama F Marinos in Japan and Girona FC in Spain are the other clubs owned the group.
“CFG will become the 65 per cent majority shareholder of the club, alongside existing shareholders actor and film producer Ranbir Kapoor and Bimal Parekh who combined will hold the remaining 35 per cent,” said the club.
Manchester City have won the Premier League title four times since Abu Dhabi United Group, the investment vehicle owned by Sheikh Mansour bin Zayed Al Nahyan, took over the club.
“We believe that this investment will deliver transformative benefits to Mumbai City FC, to City Football Group and to Indian football as a whole,” said CFG chairman Khaldoon Al Mubarak.
“City Football Group is committed to the future of football in India and to the potential for MCFC within that future.”
They have enjoyed 11 successive years of financial growth and earlier this month reported record revenue of £535.2 million (628.6 million euros) last season.
Manchester are currently sitting third on the league table, and reached the knockout stages of the Champions League on Tuesday.
