Mumbai: English Premier League champions Manchester City’s parent company City Football Group (CFG) bought Thursday a majority 65 per cent stake in ISL franchise Mumbai City FC.
News of the acquisition was revealed in front of the club’s fans by CFG CEO, Ferran Soriano together with chairperson, Football Sports Development Limited (FSDL) and Reliance Foundation, Nita Ambani.
The deal with the Pep Guardiola-managed club’s group will see Mumbai City benefit from its commercial and football know-how, while at the same time delivering a new and exciting element to the CFG global commercial platform.
“Today we welcome a global football powerhouse to India, to ISL and Indian football. I am delighted and proud to announce that the City Football Group has acquired a majority stake in Mumbai City FC,” said Ambani.
“For the first time ever an European club will be acquiring majority stake in an Indian club. “ am sure Mumbai City FC and Indian Football will benefit from this historic partnership,” she added.
Mumbai City FC play their home games at the 8,000 capacity Mumbai Football Arena, which sits within the Andheri Sports Complex, a multi-purpose sports facility. The team has so far played five games in the sixth ISL season.
Soriano said Manchester City’s Spanish manager Pep Guardiola will be in touch with their Mumbai City FC coach.
“Pep is part of our network of coaches. And they speak all the time. The example I gave you is our Chinese coach was in Manchester last week coaching with Manchester City team, trying to learn. The coach we have in Mumbai City will have a relationship with Pep Guardiola and with all our other coaches,” Soriano said, adding grassroots will be their priority.
CFG will become the majority stakeholder of the franchise alongside existing shareholders, actor Ranbir Kapoor and Bimal Parekh, who will keep the remaining 35 per cent.
Co-owner Kapoor said he was very excited with the new development. , “I am super thrilled for this day. All of us at the Mumbai City FC, the ambition is to make it the best football club in Asia,” said Ranbir Kapoor.
“With this tie up, we hope to replicate what Manchester City has done in English Premier League and that is to win everything in front us. City Football Group’s interest in India shows the growth opportunities the country presents in football,” added Kapoor.
Agencies
