English football gets a major boost in China

The push to boost the popularity of English football in China has received a major boost this week after City Football Group sold a 13% stake to a consortium of Chinese investors for US$400 million.China Media Capital will now own a stake in City Football Group, owner of Manchester City, New York City FC, Melbourne City FC and a minority shareholder in Yokohama F Marinos. The deal values City Football Group at US$3 billion. The announcement follows more than six months of discussions and should provide a major boost for the growth of CFG clubs and companies in China.Last month China's president Xi Jinping visited the City Football Academy, home to Manchester City Football Club and headquarters of its global football organisation.The president, who was accompanied by British Prime Minister David Cameron, visited the 80 acre youth development and first team training site in central Manchester, as part of a four day trip to the UK and was hosted by City Chairman, Khaldoon Al Mubarak.Speaking about the China Media Capital investment, Al Mubarak, described football as the most loved, played and watched sport in the world."The exponential growth pathway for the game is both unique and hugely exciting," he said via a statement. “Our partners have an incredible track record of creating value and could not be better placed to help us further evolve City Football Group."https://vimeo.com/144079569