Manchester City have announced that a consortium of Chinese investors have bought shares worth 13% in the City Football Group.

The agreement between the club’s holding company and the Chinese consortium consisting of CMC Holdings and CITIC Capital will see their oriental partners invest $400m to take a shareholding in City Football Group of just over 13%.




The deal between Manchester City and their investors values the club’s holding company at $3bn and the agreement is still subject to regulatory approval in some territories.

The cash injection is expected to further bulge Manchester City’s financial clout and increase their presence in the Asian market, traditionally dominated by their rivals Manchester United.
 


CMC Holdings will represent the consortium on the club’s board and their chairman Mr. Ruigang L will become a member of City Football Group Holding Company Board.

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Manchester City chairman Khaldoon Al Mubarak is happy after finding new partners and believes their partnership will take the club to new heights in the future.

Speaking to the club’s official website, Al Mubarak said: “Football is the most loved, played and watched sport in the world and in China, the exponential growth pathway for the game is both unique and hugely exciting.

"We have therefore worked hard to find the right partners and to create the right deal structure to leverage the incredible potential that exists in China, both for CFG and for football at large.”

CITC Capital were recently linked with buying Manchester United shares off the Glazer family.