Perhaps quoting Pep ironically was a mistake.
City Football Group - Financials & Acquisitions
- Thread starter LionNYC
- Start date
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.
https://khelnow.com/news/article/isl-2019-20-city-football-group-to-buy-stake-in-mumbai-city-fc
https://khelnow.com/news/article/isl-2019-20-city-football-group-to-buy-stake-in-mumbai-city-fc
It's about a $40 million purchase.
Interesting that CFG are using the Saudi playbook of buying up distressed assets during this crisis. Ethical issues aside, this at least bodes well for CFG keeping the money flowing during/after the pandemic. A lot of ownership groups are going to be a lot more defensive.
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.
Some politics going on between U.S. and China. There's a CFG team in Chengdu.
www.nytimes.com
China Orders U.S. to Shut Chengdu Consulate, Retaliating for Houston (Published 2020)
The tit-for-tat consulate closures marked yet another round of rising tensions between Washington and Beijing.
Indirectly, minority stake in Barcelona up for sale...
Bloomberg - Are you a robot?
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Yes. Though this deal would be like owning SUM, rather than an MLS club.
Marito
Registered
Besides the traditional team shirt already being light blue, I have no idea how Bolivar and MCFC have anything in common. It reminds me of Hugo Chavez walking hand in hand with Ahmadinejad through Teheran as if their countries had anything in common besides being against the US.
i mean, the same can be said with a number of other CFG owned teams. Here though its not ownership but basically bolivar hired man city's "Services" to help them develop an academy and scouting network etc.
Oil?
Bloomberg - Are you a robot?
www.bloomberg.com
