Mumbai City FC have officially notified the All India Football Federation (AIFF) of an impending change in the club’s ownership structure, with City Football Group (CFG) — the entity that previously held a controlling stake — preparing to exit its shareholding in the club.
Apart from CFG, the club’s shareholders include Bollywood actor Ranbir Kapoor and well-known Mumbai-based chartered accountant Bimal Parekh.
Confirming the development, a source familiar with the situation said on Wednesday, “There is a change in the shareholding pattern, and part of the stake is being bought out.”
Despite the ownership transition, the club’s routine operations remain unaffected. Training sessions continued as scheduled under head coach Petr Kratky, and Mumbai City were also represented at the AIFF’s meeting with clubs held on Wednesday.
An official maintained that the changes were confined to ownership matters, stating that “the restructuring is an internal issue.”
CFG Limited, headquartered in the United Kingdom, functions as a global football holding company overseeing multiple clubs. The group is controlled by three parent entities, with Abu Dhabi United Group holding a dominant 81 per cent stake.
Globally, CFG’s portfolio spans 13 football clubs, with Premier League giants Manchester City positioned as the flagship team.
Mumbai City FC became part of the CFG network in November 2019 and quickly enjoyed on-field success. In the 2020–21 season, the club secured a historic double by winning both the League Shield and the ISL Cup. They added another ISL Cup title in May 2024, defeating Mohun Bagan Super Giant 3–1 at the Salt Lake Stadium.
However, sources indicate that the Indian Super League (ISL), backed by Football Sports Development Limited (FSDL), has struggled financially and has yet to turn profitable even after 11 seasons — a factor believed to have influenced CFG’s decision to divest its stake.
Compounding the uncertainty, the Master Rights Agreement between FSDL and the AIFF expired on December 8, leaving Indian club football in a state of uncertainty for the past six months. Numerous discussions and correspondence between the federation and the clubs have so far failed to produce a resolution.
When CFG first announced its investment in Indian football in 2019, the move was widely hailed as a landmark moment for the sport in the country.
Following Mumbai City’s League Shield triumph in the 2020–21 season — which saw them finish ahead of the then ATK Mohun Bagan and qualify for the AFC Champions League — Manchester City manager Pep Guardiola lauded the achievement, calling it “incredible.”
In recent months, speculation had grown that CFG was reconsidering its long-term involvement with Mumbai City FC.
That uncertainty appeared to reflect on the pitch last season, as the club parted ways with several key players, most notably Lalengmawia ‘Apuia’ Ralte, who joined Mohun Bagan. Mumbai City ultimately scraped into the playoffs, narrowly keeping their season alive.