City Football Group to Add Chinese Club to Growing Global Portfolio
Manchester City's ownership group are set to add to their growing global portfolio of clubs with the acquisition of third-tier Chinese side Sichuan Jiuniu.
The City Football Group (CFG) already possess stakes in clubs across the world, including Girona FC in Spain, New York City FC in the USA, Melbourne City FC in Australia, Yokohama F. Marinos in Japan and Club Atletico Torque in Uruguay.
And, after selling a 13% share of the CFG to the private equity groups China Media Capital and CITIC Capital in 2015, they have finally settled on the Chinese club they will acquire to continue their global expansion.
As reported by the Guardian, this new "partnership" with Sichuan Jiuniu, who finished 24th overall last season in China League Two - the country's third division - will be announced in a press conference on Wednesday.
A statement on the club's website revealed that Ferran Soriano, the CFG's chief executive, would be present at the unveiling, and reports from China have claimed that the negotiations for the takeover began last year.
Manchester City currently sit at the top of the Premier League table with 65 points after 27 games, though title rivals Liverpool have one game in hand over the Citizens. Elsewhere, Girona have also seen dramatic success in recent years, punching well above their weight in La Liga after joining the top tier for the first time in their then 87-year history in 2017 - they are currently 15th.
NYCFC have also excelled, though are yet to win an MLS Championship, losing out to eventual winners - and even more recent inductees into the league - Atlanta United in the conference semifinals last season.
