Chinese investors plough £265m into Manchester City owner

The club's parent company City Football Group (CFG) has sold off a 13% stake to a consortium led by CMC.

by Rebecca Smith

We saw the government falling over itself to welcome Chinese president Xi Jinping for his state visit in October, with the red carpet rolled out and a plethora of platitudes from both sides. Now it looks as if the football club Xi toured for part of his visit is hoping to one-up rivals by making inroads into the highly valued Chinese market.

Manchester City trumped fierce rivals Manchester United after securing a visit from the Chinese president – despite the fact he’s a lifelong United fan. Accompanied by David Cameron, the president received VIP treatment for his trip to the Etihad stadium, which reportedly came about thanks to the successful lobbying efforts of Manchester Council leader Sir Richard Leese (who just happens to be an avid City supporter).

That may have all been in good fun, but the announcement of a partnership between City's parent company, City Football Group (CFG) and a consortium of institutional investors, led by CMC (China Media Capital), shows the club's intent to expand its global reach. CFG has been valued at $3bn (£2bn) after selling a 13% stake worth £265m to the consortium. The tie-up follows six months of talks, as CFG looks to branch out even more internationally, with the Chinese football industry a prime target.

Sign in to continue

Sign in

Trouble signing in?

Reset password: Click here

Email: mtsupport@haymarket.com

Call: 020 8267 8121

Register

FREE

  • Up to 3 free articles every 90 days
  • Free email bulletins

Register Now

Take a free trial

Get 30 days unrestricted access to:

  • All the latest news, trends, and developments.
  • Exclusive interviews with CEOs and thought-leaders
  • MT Classroom - giving you an academic grounding without expensive courses
  • Management Matters and other in-depth content.
  • Daily bulletins straight to your inbox

Take a free trial today