City Football Group acquires majority stake in ISL’s Mumbai City FC

City Football Group acquires Mumbai City FC, a team in Indian Football League
City Football Group acquires Mumbai City FC, a team in Indian Football League
  • City Football Group (CFG) agrees deal to take 65% majority stake in Mumbai City FC
  • Indian Super League(ISL) team to become eighth club in City Football Group (CFG)
  • Damian Willoughby became CEO of City Football Group India
  • Acclaimed actor and film producer, Ranbir Kapoor to stay with Club as minority shareholder

City Football Group (CFG) has agreed on a deal to acquire a majority stake Mumbai City FC in the Indian Super League, marking a significant step right into Indian football. CFG will hold 65% of shares in the Club, along with other existing investors, including well-known actor and also film producer, Ranbir Kapoor and Bimal Parekh. They will hold rest of shares in Mumbai City FC.

The news was published by CFG Chief Executive Officer Ferran Soriano together with Chairperson, Football Sports Development Limited, and also Reliance Foundation, Mrs. Nita Ambani. The deal will undoubtedly help Mumbai City from the Group’s commercial as well as football expertise, while at the same time delivering a new as well as exciting component to the CFG worldwide business platform.

Mumbai City FC plays its home matches at the 8,000 capability Mumbai Football Arena, which rests within the Andheri Sports Complex, a multi-purpose sports facility. The Group is presently five games into the 6th ISL season.

CFG, the world’s leading personal proprietor and driver of football clubs, which is best understood for its ownership of English Premier League Champions, Manchester City FC, also comprises New York City in the United States, Melbourne City FC in Australia, Yokohama F. Marinos in Japan, Club Atletico Torque in Uruguay, Girona FC in Spain as well as Sichuan Jiuniu FC in China.

The statement can be found in a hectic period for CFG. Directly before shutting this deal to acquire Mumbai City FC, the Group validated a brand-new equity financial investment from Silver Lake, a worldwide leader in modern technology investing, valuing the Group at $4.8 bn. Recently, I also saw Manchester City FC launch its annual report with document profits and even fifth ongoing year of profits, at the same time as reps visited India as part of the Club’s trophy trip.

Talking about the purchase as well as the opportunities it brings to all celebrations, Chairman of City Football Group Khaldoon Al Mubarak stated:

” We believe that this financial investment will provide transformative advantages to Mumbai City FC, to City Football Group and Indian Football in its entirety. City Football Group is dedicated to the future of football in India as well as to the capacity for Mumbai City FC within that future.

He included: “We are significantly eagerly anticipating playing an active duty in Mumbai City FC’s follower and regional areas, and working with our co-owners to additional create the Club as swiftly as feasible.”

Welcoming the City Football Group to the Indian Super League as well as Indian Football, Mrs. Nita Ambani stated:

” It’s a spots celebration that commemorates the exceptional surge of Indian football and also gives birth to our vision for the stunning game in India.

” It is a wonderful recommendation of the boosting appeal of Indian football, and for all football followers in India, this is a minute to take pride in our football, our society, and also the chance we present to the globe in creating the sport. The power and also the possibility of our young people make India the most amazing international possibility on the planet today, in every field, and also specifically in sporting activity.

” On behalf of all Indian football stakeholders, I invite City Football Group and thank them for their rate of interest as well as an idea in Indian football. I make sure Mumbai City FC and Indian football will certainly benefit greatly from this historic collaboration.”

CFG’s operations will certainly now consist of 8 football clubs and also football-related businesses in 13 workplaces around the globe. Just before closing this offer to get Mumbai City FC, the Group verified a brand-new equity investment from Silver Lake, a worldwide leader in innovation investing, valuing the Group at $4.8 bn.