Manchester City ownership group have acquired a China League Two club, Sichuan Jiuniu in addition to their global business portfolio.
The Group made their latest purchase in conjunction with UBTECH and China Sports Capital expanding its world clubs portfolio to seven.
This was made known by the CFG chief executive Ferran Soriano who expressed excitement over the new asset acquired.
“Today marks an exciting new chapter in the growth of City Football Group.
“China is an extremely important football market, which we have been focused on for some time. We see this as a natural extension of our existing activities.
“We believe strongly in the future of football in China. We are making a long-term, sustainable commitment to grow and develop Sichuan Jiuniu FC and to nurture Chinese footballing talent.
“These objectives are equally important. Our immediate focus will be strengthening our football performance, using all of our experience and know-how, forging a strong relationship with our fans and building a strong presence in the community. We cannot wait to get started.”
Other City Football Groups’s portfolio includes Major League Soccer franchise New York City, A-League outfit Melbourne City, LaLiga side Girona, Japanese club Yokohama F. Marinos and Uruguay’s Club Atletico Torque.