In a revolution for Indian football, Indian Super League (ISL) franchise, Mumbai City FC have been acquired by City Football Group with the deal being announced in Mumbai on Thursday evening.
With this, Mumbai City have become the eighth different club and third in Asia to come under the City Football Group umbrella.
Previously, there were reports about a possible takeover amid advanced talks between the Mumbai City owners and CFG. However, on November 28, a deal which is set to come into effect immediately has confirmed the acquisition.
City Football Group is delighted to welcome Mumbai City FC to its family of clubs.
— Manchester City (@ManCity) November 28, 2019
FULL STORY: https://t.co/4QtaS5rdwY pic.twitter.com/R7zARPAiE5
City Football Group, the owners of the Premier League franchise Machester City, have over the past five years, diversified their investments across the world of football. That being said, the deal will mean that Mumbai City FC's ownership will see a transfer of ownership from co-owners, Ranbir Kapoor and Bimal Parekh to CFG.
This makes Mumbai, the third Asian club to be associated with CFG who have previously acquired minority stakes in J-League outfit Yokohama F. Marinos and most recently with Chinese League Two club Sichuan Jiuniu FC.
We believe that this investment will deliver transformative benefits to Mumbai City FC, to City Football Group and to Indian Football as a whole. City Football Group is committed to the future of football in India and to the potential for Mumbai City FC within that future," said Chairman of City Football Group Khaldoon Al Mubarak.
He added that they were looking forward to playing an active role in Mumbai City FC’s fan and local communities and working with the co-owners to further develop the club as quickly as possible.
Welcoming the City Football Group to the Indian Super League and Indian Football, Mrs Nita Ambani, Chairperson of Football Sports Development Ltd (FSDL), said,
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."
MCFC have been a part of the ISL since the league’s inception in 2014 with a play-off exit in 2016 and most recently in 2018 being their best finishes in the five seasons so far.
Here's how the fans reacted:
Apun ke fans look quite happy after the announcement! 🤩 #ApunKaCity #ApunKaTeam #MCFC 🔵 pic.twitter.com/QGelOuunLk
— Mumbai City FC (@MumbaiCityFC) November 28, 2019
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