- Jul 24, 2014
It's about a $40 million purchase.Rumors that CFG will acquire a controlling interest in Mumbai City FC, playing in the Indian Super League. Further rumors that they would bring in... David Villa.
You sure about that? The take over is the transfer of ownership from Party-A to CFG. That was done for free as evidently no money changed hands going from CFG to Party-A. The club has/had $2m in debt of some sort, to one/more vendors and or creditors - but the debt wasn’t in the form of equity so it didn’t affect ownership. CFG deciding to pay off the debt immediately vs whenever the terms stipulated is up to them, again, not impacting the ownership of the club.When you have to repay $2M in debt, it's not free. It's just a debt-acquisition.
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