City Football Group acquires majority stake in Mumbai City FC
28 November 2019
India is a growing football nation with the world's fifth-highest attendance figures.
The Indian side become the eighth football club in CFG's portfolio.
City Football Group appoint new CEO for the Indian club.
The former owners will remain at the club with 35 per cent of the shares.
City Football Group (CFG) has acquired the majority stake in Mumbai City FC, who play in the Indian Super League.
CFG, a holding company which owns Manchester City and sold just over ten per cent of its shares for $500 million to US private equity firm Silver Lake yesterday, has expanded by investing in India, the company confirmed on its official website on Thursday.
CFG has successfully negotiated a deal for 65 per cent of the stakes in the club, which makes the holding company the majority shareholder.
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