EPL champ Man City invests big in Mumbai FC, 65% stake

Tribune Web Desk

Updated At : 02:01 PM Nov 29, 2019 IST

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Mumbai, November 28

English Premier League champions Manchester City’s parent company City Football Group on Thursday bought a majority 65 per cent stake in Indian Super League franchise Mumbai City FC.

Nita Ambani, founder and chairperson of Football Sports Development Limited and Reliance Foundation, said, “Today, we welcome a global football powerhouse to India, to Indian Super League and Indian football. “For the first time ever, a European club will be acquiring majority stake in an Indian club.”

The CFG will become 65 per cent majority stakeholder of the club, alongside existing shareholders, actor Ranbir Kapoor and Bimal Parekh, who will keep remaining 35 per cent. Other clubs in CFG stable include New York City, Melbourne City, Yokohama F Marinos in Japan and Girona FC in Spain. — PTI

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