City Football Group (CFG), the parent company of Manchester City, held a meeting in Korea regarding the acquisition of a K-League club.

According to an official 먹튀검증 familiar with European soccer news, City Football Group held a high-level meeting with multiple K-League clubs during its visit to Korea in July. The purpose is to acquire shares.

Man City carried out a wide range of activities in Korea at the time of their visit to Korea. In addition to the evaluation match against Atletico Madrid, he worked hard to expand the fan base in Korea through sponsorship activities and fan meeting activities. He also discussed establishing a soccer school with local governments in Korea.

City Football Group also sought a full-fledged entry through the acquisition of a domestic club. High-ranking officials such as Man City and Ferran Soriano (CEO) and Esteve Calzada (Chief Customer Officer) also visited Korea. City Football Group held a meeting with multiple K-League clubs even before their visit to Korea, and met within a busy schedule.

The ultimate goal of the meeting is the acquisition of shares. City Football Group is centered on Man City, New York City (USA), Melbourne City (Australia), Girona (Spain), Mumbai City (India), Troyes (France), Yokohama Marinos (Japan), Sichuan Province (China), etc. It owns stakes in soccer teams in major countries around the world. 

In the case of Man City, New York City, and Melbourne City, which are the most recognizable, they have a high percentage of shares and virtually own them. Yokohama Marinos and Sichuan Junyu hold 20-30% of the shares.

The condition that City Football Group presented at the meeting with the K-League club is also a low percentage stake acquisition. Considering the precedent that the City Football Group has aggressively expanded, it is possible to draw a shape of increasing the stake in the future.

High-ranking officials of the City Football Group left Korea after Man City’s visit to Korea ended, and it is known that discussions are continuing through continuous communication with some K-League clubs.

One of the clubs City Football Group met is Jeonbuk Hyundai, which boasts the largest scale in Korea. An official familiar with Jeonbuk’s situation also said, “It is true that Man City has recently been in contact with Jeonbuk.” However, “negotiations for the acquisition of shares have not progressed. I was introduced to the work that Man City is doing globally, and I heard the principled story about whether we could collaborate while talking about various possibilities. We are expected to have another meeting later.” He took a cautious stance on the details of the negotiations.

Leave a comment

Your email address will not be published. Required fields are marked *