The owners of Manchester City will now hold the majority stake while Ranbir Kapoor and film producer will own the remaining 35% shares in Mumbai City FC.
Ranbir Kapoor speaks in his video message during the event where the tie-up between City Football Group (CFG) and Mumbai City FC was announced. (Photo: screengrab from video posted in YouTube/@Mumbai City FC)
Ranbir Kapoor, one of the co-owners of Mumbai City FC, has expressed his delight after Manchester City’s parent company the City Football Group (CFG) acquired 65% of the Indian Super League (ISL) club’s stake.
During the event where the official announcement was made in the presence of Football Sports Development Limited (FSDL) chairperson Nita Ambani and chairman of CFG Khaldoon Al Mubarak, Kapoor said the aim is to make Mumbai City FC the best football side in Asia.
“I am super-thrilled for this day. All of us at the Mumbai City FC, the ambition is to make it the best football club in Asia and today I am thrilled to announce City Football Group’s association with Mumbai City Football Club,” Kapoor said in a video message which was played during the event.
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From now on, the owners of Manchester City will hold the majority stake while Kapoor and film producer will own the remaining 35% of the shares.
“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. City Football Group’s interest in India shows the growth opportunities the country presents in football,” Ranbir said.
“City Football Group is committed to the future of football in India and to the potential for Mumbai City FC,” CFG chairman said.
Mumbai City has now become the eighth club under the umbrella of CFG which already shelters US club New York City FC, Australian side Melbourne City, Uruguay’s Club Atletico Torque and Chinese team Sichuan Jiuniu alongside English champions Manchester City.
The multi-billion-dollar sports franchise also holds a stake in Spain’s Girona and Japanese club Yokohama F Marinos. After the deal with Mumbai. a Daily Mail report suggests that the group will be looking to acquire business in Brazil and Mexico as well.
With almost 1500 footballers in their ranks, the CFG is also expected to expand their worldwide football schools which focus on training both coaches and players.
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