Sources: Man City takeover plan emerges after latest from Premier League HQ
City Football Group (CFG) have assured their network of clubs that they will continue to back them financially regardless of the outcome of the Premier League’s case against Man City, sources have told Football Insider.
However, it is understood that CFG have no plans to add to their portfolio of 12 clubs in the immediate future amid the uncertainty surrounding their prize asset.
The multi-club empire’s decision-makers had already hit the brakes on any short-term expansion plans after the acquisition of historic Brazilian side Bahia in December last year.
But the charges against Man City have caused CFG to reassess their long-term ambitions given the very real possibility that the club – which accounts for 90 per cent of the group’s revenue – could be hit by unprecedented sanctions.
The Premier League have levelled 130 accusations of financial impropriety at City, for which the maximum punishment could theoretically be relegation or an unlimited cash fine.
A well-placed source has told Football Insider that the case is unlikely to have a material impact on the other 11 clubs in the CFG network in the period before the case is heard by the league’s three-person independent commission.
It could take up to four years for City to learn their fate, by which time CFG hope that clubs within the network will be showing green shoots in terms of independent profitability.
City currently make up the bulk of CFG’s circa £5billion enterprise value, but it is hoped that MLS outfit New York City and recently-acquired Bahia can also generate serious returns in maturing markets.
CFG have outposts in four continents and have piled their chips on some of the fastest-growing leagues in the game.
The acquisition of Bahia cost upwards of £100m, and confirmed plans for New York City’s new stadium will have set CFG back around £650m by the time construction is complete in 2027.
They are 81-per-cent-owned by Abu Dhabi United Group, while American private equity firm Silver Lake own 18 per cent and China Media Capital one per cent.
In other news, Barcelona lay groundwork for deal for Man City star Rodri as £80m bid mooted.