China Media Capital leads $400m purchase of 13% stake in City Football Group

Date: 02 Dec 2015

China Media Capital Holdings (CMC) and Citic Capital have signed an agreement to acquire a 13% stake in Manchester City FC’s holding company, City Football Group (CFG), for $400m. CFG, which turned Manchester City into a prestigious club with 2 Premier League titles over the last 3 years, will issue new shares in addition to those already held by Sheikh Mansour’s Abu Dhabi United Group. The breakdown between CMC and Citic was not reported; but CMC’s chairman Li Ruigang will become one of the 7 board members of CFG.

CFG will use the funds for its growth in and access to the Chinese market for all four of its football clubs: Manchester City, New York City, Melbourne City and Yokohama F Marinos.

“CFG has worked hard to find the right local partners to leverage the incredible potential that exists in China, both for CFG and for football as a whole,” said the group’s chairman, Khaldoon Al Mubarak.

CMC, a leading Chinese investment company in the media, entertainment, sports and Internet sectors, owns the exclusive media rights for the Chinese Super League and China’s national soccer team. Citic Capital, invests in property and private equity investments around the world.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.