City Football Group (CFG), parent company of English Premier League champion Manchester City, is reportedly looking to add French Ligue 2 outfit AS Nancy Lorraine to its portfolio of clubs.
French newspaper L’Équipe reported that CFG is “on its way” to a takeover deal for the club, which currently sits 14th in France’s second tier. The report said that Nancy president Jacques Rousselot, who has owned the club for 26 years, would remain in his role for the next two seasons if a deal is finalised.
According to L’Équipe, the acquisition has been in the works for “several months”, with CFG looking to strengthen its presence in Europe.
Rousselot told Nancy-based newspaper L’Est Républicain: “As I have said publicly many times…I have been chatting with buyers for a while. The sale of the club is progressing well and things have even accelerated and intensified, with City Football Group very sharp and very meticulous in its analysis of the club, you have to say. But it’s premature to announce anything.”
The deal would appear likely to go through, with Get French Football News reporting that negotiations are at an “extremely advanced” stage.
In November, CFG further expanded its global footprint by acquiring a majority stake in Indian Super League club Mumbai City. CFG becomes a 65-per-cent majority shareholder of the club, alongside existing shareholders, actor and film producer Ranbir Kapoor and Bimal Parekh, who combined will hold the remaining 35-per-cent stake.
CFG’s operations include eight football clubs and football-related businesses in 13 offices around the world, with Mumbai City joining Manchester City, New York City, Melbourne City, Yokohama F. Marinos in Japan, Club Atlético Torque in Uruguay, Girona in Spain and Sichuan Jiuniu FC in China.
The Nancy reports come with Manchester City facing a two-year ban from Uefa competitions over its alleged circumvention of the governing body’s Financial Fair Play rules. City has commenced an appeals process against what it claims is a “prejudicial process” pursued against it by Uefa.