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CFG to establish football club in Shenzhen

Friday, 26 Aug 2016 15:20   |   By Meng Shuai

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According to a news report, the Chief Operations Officer (COO) of the City Football Group(CFG), Tom Glick, visited Shenzhen city in July and plans to establish a football club there.

On the 1st December 2015, Manchester City F.C announced that CITIC Capital Holdings Limited had bought 13.79% shares worth $400 Million. Manchester City Football Club is wholly owned by City Football Group Limited (CFG). The Abu Dhabi royal family are the largest shareholders.

It is well known that China is one of the most important markets in the world. The Abu Dhabi royal family has a good relationship with the Chinese government. This summer, Manchester City FC finished their China tour in Beijing and Shenzhen.

Earlier, some media sources said the City Football Group would buy Beijing Guoan F.C to establish a “Beijing City Football Club,” but finally the group chose Shenzhen to help Manchester City Football Club enlarge their influence in China.

Proofread by Sean O Diobhilin

Tags: sports industry,sports business,Manchester City

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