City Football Group, the ownership group behind Manchester City, is close to purchasing a stake in Indian Super League side Mumbai City FC.
Yesterday, SportBusiness reported that CFG chief executive Ferran Soriano had indicated a desire to invest in an Indian club at some point in the coming months, adding that CFG had been investigating the possibility for over two years.
That process has now apparently been expedited, with The Times of India claiming that a deal to invest in Mumbai City is “almost finalised”, having been under discussion for eight months, and should be completed in time for the 2019-20 ISL season which begins in September.
At present, it is unclear whether the deal would be a complete acquisition of the club, or a partial stake. Of the seven clubs currently in its portfolio, CFG is the sole owner of three – Uruguay’s Club Atlético Torque and Melbourne City of Australia, alongside Manchester City. It holds partial shares in its other teams.
Mumbai would become CFG’s third club in Asia, after Japan’s Yokohama F. Marinos and third-tier Chinese outfit Sichuan Jiuniu.