Investment giant China Media Capital (CMC) has ploughed £265m in City Football Group (CFG), opening Manchester City, New York City FC, Melbourne City FC and Yokohama F Marinos up to Chinese fans of the sport..
The state-backed media and sports group will help the clubs grow their audiences – and open up further investment options – with the CFG now conservatively valued at $3bn.
Following six months of negotiation, the global deal, which is still subject to approval from some national regulators, sees CMC take up a 13 per cent stake in the group.
On the partnership, Khaldoon Al Mubarak, chairman of CFG, Read full story ›
Source: The Drum
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