City Group will cease operations with Mumbai City FC, an Indian team in which it was a shareholder for seven years. The conglomerate, which owns a dozen clubs around the world, is leaving the Asian giant, as the Indian institution itself confirmed in a statement. “Mumbai City FC (the club) confirms that City Football Group Limited (CFG) has sold its shares in the club. The founding owners will assume full control of the organization going forward,” the message begins.
He continues: “Since 2019, CFG and Mumbai City FC have reached new heights, winning two ISL League Winners’ Shields and two ISL Cup titles, strengthening the club’s football operations and contributing significantly to the growth of the sport in India.”
The reasons for the decision are also outlined in the statement released by Mumbai City: “CFG has taken this decision after a thorough commercial review and in light of the uncertainty surrounding the future of the Indian Super League (ISL).. “This move reflects CFG’s disciplined and strategic approach and ensures the company continues to focus on the areas where it can have the greatest long-term impact.”
And it concludes: “CFG remains proud of its achievements and deeply grateful to everyone associated with Mumbai City FC, from the players and coaches to the staff, fans and partners, for their commitment and passion, and looks forward to continuing its relationships and partnerships in India in the years to come.”
This leaves the City Group with twelve clubs under its ownership, starting with its flagship Manchester City. In addition to the English team, CFG owns the following teams: New York City (USA), Melbourne City (Australia), Girona (Spain), Yokohama Marinos (Japan), Montevideo City Torque (Uruguay), Bolívar (Bolivia), Palermo (Italy), Shenzhen Peng City (China), Lommel SK (Belgium), Bahía (Brazil) and ESTAC (France).
The decision has to do with the uncertainty surrounding the Indian league. The ISL was put on hold in July after negotiations to extend the All India Football Federation’s (AIFF) contract with its commercial partner, the Reliance-run Football Sports Development Limited, stalled.
Talks to renew the 2010 agreement collapsed after India’s Supreme Court asked the AIFF not to renew the agreement with the FSDL until an order applying a new constitution to the federation was made in a separate case.
About The Author
