Mumbai City FC and Manchester City are now owned by the same company
Nov 28, 2019, 23:08 IST
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- Manchester City’s parent company, City Football Group (CFG), just acquired a majority stake in the Indian Super League’s Mumbai City FC.
- CFG now owns 65% of Mumbai City FC with the remaining 35% split between Ranbir Kapoor and Bimal Parekh.
- Kapoor hopes that CFG will be able to replicate Manchester City’s success with Mumbai City FC.
City Football Group (CFG), the parent company behind Manchester City — the reigning champions of the English Premier League — has acquired a 65% stake in Mumbai City FC.
It is now the majority stakeholder alongside Bollywood actor Ranbir Kapoor and Bimal Parekh, who will own the remaining 35% of the Indian Super League (ISL) team.
"With this tie-up, we hope to replicate what Manchester City has done in English Premier League and that is to win everything in front of us,” said Kapoor during the announcement.
Manchester City has won six domestic league titles. The team’s most recent win — with Pep Guardiola at the helm — set the record for the most points won during a single season. It’s also the first time that a team has crossed the 100-mark barrier in the history of the league.
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Not only has Machester City been playing well but they’re also bringing in the money. According to Forbes, it’s the world’s fifth most valuable club at $2.69 billion.
Damian Willoughby will take on the role of CEO at CFG India to bring the same kind of success to Mumbai City FC.
“It’s a landmark occasion that celebrates the remarkable rise of Indian football and brings to life our vision for the beautiful game in India,” stated Nita Ambani, chairperson of Football Sports Development Limited (FSDL).
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