City Football Group (CFG) have officially welcomed Indian Super League side Mumbai City as a new member of sister clubs around the world.
The owners of Premier League champions and powerhouse Manchester City have now added to their global partnerships with clubs.
Representatives of CFG was recently in India to undertake a trophy tour and have confirmed their deal with Mumbai City. This new acquisition has meant that CFG have taken a majority 65 per cent share in the top-flight Indian club.
The other 35 per cent of the club has gone to former co-owners – Bollywood actor Ranbir Kapoor and chartered accountant Bimal Parekh.
This new agreement sees Mumbai City become CFG’s eighth club, who only just recently purchased third-tier Chinese club Sichuan Jiuniu FC.
Mumbai has joined English Premier League’s (EPL) Manchester City FC, A-League’s Melbourne City FC, Major League Soccer’s (MLS) New York City FC, J-League’s Yokohama F. Marinos, Uruguayan Primera División’s Club Atlético Torque and La Liga 2’s Girona FC as all the clubs as part of CFG so far.
“We believe that this investment will deliver transformative benefits to Mumbai City FC, to City Football Group and to Indian Football as a whole,” said CFG Chairman, Khaldoon Al Mubarak.
“City Football Group is committed to the future of football in India and to the potential for Mumbai City FC within that future.
“We are very much looking forward to playing an active role in Mumbai City FC’s fan and local communities, and working with our co-owners to further develop the club as quickly as possible.”
It’s an opportunity now for Indian football to grow as a result of this partnership, which will give Mumbai some added exposure as one of CFG’s new partners.
In conjunction with this announcement, CFG has also moved Damian Willoughby from his role as Senior Vice President of Partnerships to become CFG India Chief Executive. He will be relocated from Singapore to Mumbai in the coming weeks.
The purchase has come in the same week that CFG announced a US$500 million equity investment from Silicon Valley firm Silver Lake in a deal that sees the group now valued at US$4.8 billion.