The owner of Manchester City is leading a takeover of third tier football side Sichuan Jiuniu, as the English Premier League team seeks a foothold in the country’s burgeoning sports market.
City Football Group will today announce the acquisition of the Chengdu-based club as part of its strategy of buying football teams across the world. CFG owns or has invested in six other clubs, including US Major League Soccer side New York City FC and Australia’s Melbourne City FC.
According to people close to CFG’s leadership, executives have considered acquiring teams in the Chinese Super League, the country’s top division, where clubs have been snapping up some of European football’s top players in an effort to gain international attention. Among recent Chinese signings are Marouane Fellaini who moved from Manchester United and Marek Hamsik from Napoli.