Manchester City’s owner is set to announce the purchase of the Chinese third-tier club Sichuan Jiuniu, the latest acquisition to a growing portfolio of clubs around the world.
The City Football Group (CFG) has been searching for a project in China having sold a 13% share of the company – owned by Sheikh Mansour bin Zayed al-Nahyan, a member of the Abu Dhabi ruling family – in 2015 to the private equity groups China Media Capital and CITIC Capital. CFG has stakes in clubs in New York, Australia, Japan, Spain and Uruguay. The partnership with Jiuniu is expected to be confirmed at a press conference on Wednesday.
A statement on the club’s website on Monday revealed CFG’s chief executive, Ferran Soriano, would be present, with reports in China having stated negotiations for the takeover began last year. Read more