It has been confirmed that the group which owns Manchester City has agreed a deal to take a 65% stake in Indian Super League outfit, Mumbai City.
Chairman of CFG, Khaldoon Al Mubarak said on cityfootballgroup.com: ‘’We believe that this investment will deliver transformative benefits to Mumbai City FC, to City Football Group and to Indian Football as a whole.
‘’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.’’
Sources suggest more will follow as City look towards the likes of Brazil and Mexico in the future.
The report comes a day after it was announced American technology company Silver Lake had acquired a 10% stake in CFG in a £389million investment deal that values the group at £3.73billion.
That takes the group’s value above that of Real Madrid, Barcelona and Manchester United in figures published by Forbes in May.