Manchester City owners to buy 65% stake in Ranbir Kapoor co-owned Mumbai City FC
CFG will become a majority shareholder in the Mumbai club, while existing shareholders Ranbir Kapoor and Bimal Parekh will together control the remaining 35% stake.
The owners of Premier League champions Manchester City have agreed to buy a 65% stake in Indian Super League (ISL) football team Mumbai City FC, the City Football Group (CFG) said in a statement on Thursday.
The ISL team would become the eight club in the CFG network.
CFG will become a majority shareholder in the Mumbai club, while existing shareholders Ranbir Kapoor and Bimal Parekh will together control the remaining 35% stake.
"City Football Group is committed to the future of football in India and to the potential for Mumbai City FC," Chairman of City Football Group Khaldoon Al Mubarak said.
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"We are very much looking forward to playing an active role in Mumbai City FC`s fan and local communities, and working with our co-owners to further develop the club as quickly as possible."
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