As per the reports of Mrunal Nakashe of the Indian sports media outlet Khel Now, City Football Group (CFG), the Abu Dhabi based owners of Premier League champions Manchester City are all set to buy stake in the Indian Super League (ISL) club Mumbai City FC.
They are expected to invest in the £35 million-rated Indian outfit which is currently co-owned by Indian millionaire Bimal Parekh and actor Ranbir Kapoor.
City Group to Extend Global Foothold by Buying Stake in Mumbai City FC
“The CFG is very close to buying a stake in Mumbai City FC and talks are at the final stage. This deal is set to change the dynamics of Indian football” say the sources at Khel Now who have been closely monitoring the situation at Mumbai City FC and followed up on the recent development.
What Does it Mean for Both Clubs?
Mumbai City FC would substantially improve with the takeover being a game-changer not only for the club but also for Indian football as a whole. For knowing the might and financial strength of CFG, the investment will be a substantial one for the Indian club.
The City group would exude their popularity in one of the largest football markets in the world and help them establish their position as a global power.
Is This a Surprise Move by Manchester City?
Interestingly, in the start of 2014, Mumbai City had expressed their keenness to rope in an international partner. City had considered investing in India earlier this year, with an aim to affiliate with clubs around the globe.
The group has considerable shares in clubs like New York City FC (USA), Girona FC (Spain), Melbourne City FC (Australia), Yokohama F Marinos (Japan) and Atletico Torque (Uruguay) and expansion into India was always on the cards. Mumbai City will soon join the list.
Speaking in March, City Football Group Chief Executive Ferran Soriano said,
“We have some interest in some markets and countries where there is a genuine football passion and opportunities, like China, but also India. So there might be other opportunities in Asia.”
To keep their word, they recently bought Chinese football club Sichuan Jiuniu FC in February, widening their reach to the Asian market.
He further added, “We’ve been looking at India for nearly two years now. I’d say this year we’ll end up doing an investment in India.”
This major investment in Mumbai City would follow the suit of Atletico Madrid who earlier invested in the Indian clubs ATK and Jamshedpur FC.
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