City Football Group Buy Mumbai Team

The City Football Group (CFG), owners EPL Manchester City FC, MLS NYCFC and several other clubs around the world, have now agreed to purchase a 65% share in Mumbai City FC, a soccer team from the Indian Super League (ISL).

Mumbai City are now seventh out of the ten ISL teams, and current shareholders Ranbir Kapoor and Bimal Parekh will remain together with a 35% stake in the club.  CFG stated earlier this year that it has been looking to purchase a club in India, the world’s 2^nd most-populated country throughout 2019.

This recent deal comes in light of CFG’s intention to sell a $500 million stake to U.S. firm Silver Lake, giving CFG an estimated price tag of $4.8 billion, and making it the highest-value football body in the world.

Khaldoon Al Mubarak, Chairman of CFG said earlier in a press conference: “City Football Club is committed to the future of football in India, and to the potential of Mumbai City FC.  We are very much looking forward to playing an active role in Mumbai City FC’s fan and local communities”.

Mumbai City will become the eighth member of the CFG stable of soccer clubs, joining Manchester City FC (England), New York City FC (USA), Melbourne City FC (Australia), Yokohama F. Marinos (Japan), Club Atletico Torque (Uruguay), Girona FC (Spain) and Sichuan Jiuniu (China).