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City Football Group add Chinese club:

City Football Group, ultimate owners of Manchester City, are to add a third tier Chinese club Sichuan Jiuniu as the seventh club in their global portfolio. Based in Chengdu, the club has a 42,000 seater stadium: City's global reach

Club executives had considered acquiring teams in the Chinese Super League but were put off by sky high valuations at elite Chinese clubs few of which are being run profitably. Instead, CFG hopes to build the Sichuan Jinuniu team with the aim of being promoted into China's top division, while also using the club to find and train young players capable of taking part in Europe's leading leagues.

The group will jointly acquire the club alongside China Sports Capital. a group co-founded by China Media Capital who hold a stake in CFG. It is believed that the fee for buying the club was in single digit millions.

Thirteen per cent of City Football Group is owned by Chinese investors. With an office in Shanghai, CFG clearly attach importance to the potential for football in China.

An interesting insight in the thinking behind City Football Group can be found here: Network of clubs

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