Last Updated : Thursday, November 28, 2019 20:48:55

City Football acquires majority stake in Indian Super League’s Mumbai City FC

MUMBAI (INDIA) | MANCHESTER (ENGLAND) | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press-release issued City Football Group, it said of having acquired majority stake in Indian Super League’s Mumbai City FC.

The press-release titled, “City Football Group acquires majority stake in Indian Super League’s Mumbai City FC” further read that, CFG agrees deal to take 65% majority stake in Mumbai City FC, which makes Indian Super League team to become eighth club in City Football Group (CFG) network.

Also acclaimed actor and film producer, Ranbir Kapoor to stay with Club as minority shareholder and Damian Willoughby, takes on CEO role of City Football Group India.

The press-release in details further read that, City Football Group (CFG) has agreed a deal to acquire a majority stake in its eighth club, Mumbai City FC in the Indian Super League, marking a major move into Indian football.

Profile Photo Caption : FSDL chairperson Mrs Nita Ambani welcoming City Football Group CEO Ferran Soriano in the Indian Super League. Mrs Nita Ambani together with Ferran announced CFG’s majority stake acquisition in ISL’s Mumbai City FC.

CFG will become the 65% majority shareholder of the Club, alongside existing shareholders, acclaimed actor and film producer, Ranbir Kapoor and Bimal Parekh who combined will hold the remaining 35% of shares.

Completion of the investment remains subject to the approval of certain football bodies.

News of the acquisition was revealed today in front of the Club’s fans by CFG Chief Executive Officer, Ferran Soriano together with Chairperson, Football Sports Development Limited and Reliance Foundation, Mrs Nita Ambani.

The deal will see Mumbai City FC benefit from the Group’s commercial and football know-how, whilst at the same time delivering a new and exciting element to the CFG global commercial platform.

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