Manchester City owner acquired a 65% stake of the ISL club Mumbai City FC making it the eight club in their global portfolio.
The City Football Group (CFG) already owns a stake in seven other clubs across the world which include 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 expressed his delight over the deal and claimed that it will be a huge boost to Indian football. He said:
“We believe this investment will deliver transformative benefits to Mumbai City FC, to City Football Group and to Indian football as a whole.”
Khaldoon also added that the group aims to promote the local communities and play an active role in the development of the club. He added:
“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.”