City Football Group - Financials & Acquisitions

I always presumed that the Yankees never put any capital into the team. Their equity was via in-kind contributions like consulting and perhaps a friendly stadium lease.
 
The thing with Legends is it provides a simple and complete food service solution. Teams/stadiums/arenas hire one vendor who deals with all the subcontractors while also providing a base level of burger and hot dog options. That the food selection and prices are not great does not matter because Legends does everything else right from the standpoint of their customer, who is not the fans. They do the same for licensing.

The University of Michigan's primary apparel licensing partner who ran the official MDen stores managed to go bankrupt this year just a few months after Michigan won a national championship because it seems the company principal was siphoning money to his personal account instead of paying landlords, vendors or the school. Michigan replaced that company with Legends, who stepped in and engineered a seamless transition with no lag in gear availability just as the fall school term and football season began.

They're professionals. They don't need the Yankee connection to get clients.
 
FWIW, in the signed PDA, there is language regarding a "qualified concessionaire" to provide the food and beverage services at the new stadium. "Qualified concessionaires" included:

"
  1. Legends
  2. any Affiliate of CFG-UK that, at the applicable time, is a concessionaire at Etihad Stadium (in Manchester, England) or any one or more other sports stadium(s) having a minimum seating capacity of 25,000 used by a professional soccer or football team owned and/or operated, directly or indirectly, by CFG-UK, or
  3. any other concessionaire that runs concessions at no fewer than five (5) Comparable Facilities or other professional sports venues and/or facilities of a NCAA Division I Football Bowl Subdivision team with football stadium seating over 25,000 or arena seating over 15,000.
Without limiting the generality of the foregoing, Qualified Concessionaire shall also include any one or more Queens based concessionaires (which may include educational and/or training programs operated by the City of New York or other educational institutions) having no more than five (5) outlets (other than the outlet in the Stadium), so long as the total square footage operated or managed by such local concessionaires within the Stadium does not exceed 20,000 square feet, in the aggregate."
 
Really interesting piece in The Athletic this morning. This quote in particular made my ears stand up:

The club’s ongoing profitability derives from their excellent navigation of the transfer market; in each of their last seven profitable years, City booked an operating loss, with that propelled into the black by chunky player sale profits.

Very interesting indeed.

 
Not sure if this is the right place for this, but with the removal of Leon from the club world cup, does that mean that if Manchester City makes the club world cup we are ineligible from participating?
technically no. FIFA does not allow ownership of multiple teams in the same country. which is what leon/pachuca are ( Pachuca owned by Jesus Martinez and Leon by his son but both teams under the "Grupo Pachuca" umbrella). im more surprised that FIFA actually went thru with actually disqualifying one of them.

if nycfc and man city make it, it should still be fine.
 
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