Mumbai City FC

Select Language Afrikaans Albanian Arabic Armenian Azerbaijani Basque Belarusian Bulgarian Bengali Catalan Chinese (Simplified) Chinese (Traditional) Croatian Czech Danish Dutch English Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hebrew Hindi Hungarian Icelandic Indonesian Irish Italian Japanese Javanese Kannada Khmer Korean Latvian Lithuanian Macedonian Malay Maltese Marathi Nepali Norwegian Persian Polish Portuguese Punjabi Romanian Russian Serbian Slovak Slovenian Spanish Swahili Swedish Tamil Telugu Thai Turkish Ukrainian Urdu Vietnamese Welsh Yiddish

This is a collection of articles archived for the excellence of their content. Additional information may please be sent as messages to the Facebook community, Indpaedia.com. All information used will be gratefully acknowledged in your name.

Ownership

City Football Group acquires 65% stake/ 2019

Anil Dias, Nov 29, 2019: The Times of India

In a landmark deal for Indian football, the City Football Group (CFG), which owns Premier League’s champion club Manchester City, announced that it has acquired a majority 65% stake in Indian Super League side Mumbai City FC. Existing shareholders, actor Ranbir Kapoor and Bimal Parekh, will keep the remaining 35%.

The deal, which was in the pipeline for more than 11 months, was announced by Football Sports Development Limited (FSDL) and Reliance Foundation chairperson, Nita Ambani, at an event. CFG’s CEO Ferran Soriano was also present at the press conference.

CFG agreed to sell a $500 million stake to private equity firm Silver Lake, making it the world’s most valuable football group with a $4.8 billion price tag.

Sure about bright future of Indian football: Soriano

Mumbai City FC is the eighth team that CFG has acquired around the globe after Manchester City, New York City FC, Melbourne City FC, Yokohama F Marinos in Japan, Club Atletico Torque in Uruguay, Girona FC in Spain and Sichuan Jiuniu FC in China.

“Today we welcome a global football powerhouse to India, to Indian Super League and Indian football. For the first time ever, a European club will be acquiring a majority stake in an Indian club. I am sure Mumbai City FC and Indian football will benefit from this historic partnership,” Ambani said.

Soriano said that his team was convinced about the positive future of Indian football. “We have been looking at this for years. I came myself and watched many games and we are now convinced of the bright future of football in India. I am sure 10 years from now, we will be here and we will talk about a lot of people playing good football in India,” he said.

Despite its riches, Soriano said it is not here to just spend money. “We are not here to lose money. We want to be profitable. It is a challenge like it has been in other places where we have teams but we have done it, mainly through partnerships,” he told TOI.