Manchester City’s parent company City Football Group (CFG) are set to officially announce the acquisition of their eighth club in their portfolio within the next 48 hours, according to Jack Gaughan of the Daily Mail.
Indian Super League side Mumbai City are set to join clubs across the globe, within the ever-growing portfolio of City Football Group in the next few days. The purchase of the company’s latest venture comes after a landmark day in the business’ history, with US private equity firm taking over 10% of the group in an estimated £390 million investment – a deal that takes the group to the very top of football club valuations (£3.73 billion).
According to Jack Gaughan, sources have indicated that further purchases of clubs across the globe could follow suit, with the City Football Group potentially moving into Brazilian and Mexican football sphere in the coming months and years.
Mumbai City will become the eighth club in City Football Group’s portfolio, joining Manchester City (England), Melbourne City (Australia), Yokohama F. Marinos (Japan), Club Atlético Torque (Uruguay), Girona (Spain) and Sichuan Jiuniu (China).
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