A report out of India has City Football Group withdrawing from Mumbai City FC, and "are set to exit the club."
In a post for Khel Now, Ashish Negi writes Mumbai City "will return to full ownership under Bollywood actor Ranbir Kapoor and businessman Bimal Parekh." The information comes from an unnamed source "close to the development," according to Negi.
CFG have not made an official statement regarding Mumbai City. The club, which joined CFG in 2019, are currently listed on the organization's website.
If true, this will mark the first time that CFG reduced their portfolio of holdings. The group, which was established in 2013, currently own or are strategic partners in 13 teams worldwide, including Mumbai City.
In addition to flagship club Manchester City FC, CFG own or invested in New York City FC in the United States (2013), Melbourne City FC in Australia (2014), Yokohama F. Marinos in Japan (2014), Girona FC in Spain (2017), Montevideo City Torque in Uruguay (2017), Mumbai City in India (2019), Shenzhen Peng City FC in China (2019), ESTAC Troyes in France (2020), Lommel SK in Belgium (2020), Club Bolivar in Bolivia (2021), Palermo FC in Italy (2022), and Esporte Clube Bahia in Brazil (2023).
Negi writes that a financial crisis facing the All India Football Federation, the organization that governs the sport in India, is a significant factor in CFG's decision to exit the club. According to the Times of India, the poor revenue for India's top tier is forcing "a financial reset" across the Indian Super League, and that player salaries could be reduced "to sustain owner interest and ensure continued investment in the sport."
