Manchester City’s Abu Dhabi billionaire owner will reportedly explore the possibility of buying a Chinese football club as part of global expansion plans.
The UK's Times reported that the move follows the decision of the City Football Group (CFG) to sell a 13 percent stake in the company to Chinese investors for $400 million.
The deal with China Media Capital (CMC) makes City and its offshoots - New York City, Melbourne City and Yokohama F Marinos - the fourth most valuable football franchise in the world, the paper said.
Khaldoon al-Mubarak, the CFG and City chairman, was quoted as saying that the move would give them an “unrivalled platform to grow CFG, our clubs and companies in China and international[ly]”.
The Times said that the deal is intended to give City’s owners a strong foothold commercially in the world’s most populous country and Asia’s most lucrative football market.
CFG, which has commercial bases in Japan, Singapore and Abu Dhabi, as well as London, is expected to open an office in China, it added.
The Times reported that owner Sheikh Mansour bin Zayed Al Nahyan could seek to take ownership of a club in China in time.For all the latest sports news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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