Manchester City Parent Company Buys Majority Stake in Mumbai City FC

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THE parent company of English Premiership side Manchester City is set to buy a majority stake in the Indian Super League team Mumbai City FC.

City Football Group (CFG), the parent company of Manchester City, has agreed to a deal to buy 65% of Mumbai City.

This means the group will now hold a stake in eight football clubs aeouna the workd.

Bollywood actor Ranbir Kapoor owns the remaining 35% of the club along with accountant Bimal Parekh.

On Wednesday, CFG also announced a £389m investment from US private equity firm Silver Lake, the BBC is reporting.

That deal values CFG at £3.73bn.

According to the BBC, this group already owns controlling stakes in Manchester City, Major League Soccer side New York City FC and Australian A-League team Melbourne City as well as minority shareholdings in clubs in China, Spain, Uruguay and Japan.

Mumbai, founded in 2014, have previously been managed by Manchester City greats Peter Reid and Nicolas Anelka, while former Manchester United striker Diego Forlan played for the club in 2016, the BBC stated.

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