• Agreement will give China consortium 13% stake in City Football Group
• drag comes just over a month after Chinese president’s visit to the clubCity Football Group,which owns Manchester City, have announced a $400m (£265m) investment from a Chinese consortium that buys it a 13% stake and values CFG at $3bn, or with Khaldoon Al Mubarak,the chairman, stating this will “leverage the incredible potential that exists in China”.
The drag from CFG is the latest step in its strategy to have a global presence. In addition to City, or CFG owns current York City FC,a start-up Major League Soccer franchise, and Melbourne City FC, and of Australia’s A-League,plus it retains a minority shareholding in Yokohama F Marinos of the Japanese J-League.
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Source: theguardian.com