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The City Football Group (CFG) has acquired a majority stake in Mumbai City FC of the Indian Super League on Thursday, November 28.
The news was revealed in front of the Club’s fans by the Chairperson of Football Sports Development Limited and Reliance Foundation, Nita Ambani.
CFG will become the 65 percent majority shareholder of the Club, alongside existing shareholders, Ranbir Kapoor and Bimal Parekh who jointly hold the remaining 35% of shares.
CFG’s operations will now include eight football clubs and football-related businesses in 13 offices around the world.
