Huge News for Indian Football: City Football Group aquires Mumbai City FC
Last Updated 8:26 PM 28th November 2019 .
Huge news for Indian football as City Football Group (CFG) completes take over of controlling stakes of ISL side Mumbai City FC.
CFG agrees deal to take 65% majority stake in Mumbai City FC. Acclaimed actor and film producer, Ranbir Kapoor to stay with Club as minority shareholder. Damian Willoughby, takes on CEO role of City Football Group India.
Mumbai City becomes eighth club in CFG network. CFG already owns parts of clubs in the United States (New York City FC), Australia (Melbourne City FC), Japan (Yokohama F Marinos), Spain (Girona FC), Uruguay (Club Atletico Torque) and China (Sichuan Jiuniu) with Manchester City in England being their primary highlight.
Mumbai City FC were facing huge financial strain and decided to cut costs this season. This takeover would come as a huge boost in terms of financial support. Mumbai City FC would hope for the same fortunes such as other CFG-owned clubs.
Anyway this will be a huge promotion for Indian football with global market recognition. Fans can be hopeful of seeing good investment both on first team as well as grassroots development like the CFG did everywhere they invested in.