City group buy Chinese club
The owners of Manchester City have expanded their global empire with the acquisition of China League Two club Sichuan Jiuniu.
City Football Group's latest purchase, made in conjunction with UBTECH and China Sports Capital, expands its portfolio of clubs around the world to seven.
Sichuan Jiuniu, who are based in Chengdu, play in China's third tier and start their new campaign in March. CFG chief executive Ferran Soriano said: "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."
CFG's portfolio also 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.