Chinese consortium buys 13% stake in Manchester City

A consortium of Chinese investors has bought a 13% stake in Manchester City for £265m.

City Football Group (CFG), the club’s parent company, said on Tuesday it has sold the stake to China Media Capital (CMC) and investment group Citic Capital, with new shares set to be issued in CFG in addition to those held by the Abu Dhabi United Group.

Ruigang Li, the founder and chairman of both Chinese companies, will become the seventh board member of CFG, the investment and development group which is privately owned by Sheikh Mansour, a member of the Abu Dhabi royal family.

“Football is the most loved, played and watched sport in the world and in China, the exponential growth pathway for the game is both unique and hugely exciting,” said City’s chairman Khaldoon Al Mubarak.

“We have therefore worked hard to find the right partners and to create the right deal structure to leverage the incredible potential that exists in China, both for CFG and for football at large.”

The deal will increase City’s profile in Asia, the fastest growing market for European and Premier League clubs and will also give CFG the opportunity to expand the brands related to its satellite clubs - New York City FC, Melbourne City FC and Yokohama Marinos – in the region.

The latest agreement means the Premier League leaders and their satellite clubs are worth approximately 10 times more than they were in 2008 when Sheikh Mansour bought the club.