Man City owner City Football Group aims to add more clubs to portfolio
Wednesday 8 June 2016 00:26, UK
The organisation which owns Manchester City has revealed it wants to add another club to its growing portfolio of sides around the world.
The City Football Group has four teams as subsidiaries in different continents, with the Etihad Stadium side its showcase acquisition.
The organisation also has stakes in New York City FC, Melbourne City in Australia's A-League and Japanese outfit Yokohama F Marinos.
Manchester City chairman Khaldoon Al Mubarak says the group is looking to expand further and is currently assessing its options.
He told CityTV: "Today, we have four clubs and we are going through the development of the four clubs.
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"Melbourne, New York and Yokohama are developing well. We have an ambition as a football group to have an organisation that is global and that will have multiple clubs as part of it.
"I would say when the opportunity arises - and we are looking at opportunities - you can expect us to add to the number of clubs we have already within the organisation.
"It's too early for me to pinpoint. We are looking at opportunities, we'll see how it goes. At the right time, the right place, we will tell you."
City have been fined excessively in the past for breaking UEFA's rules on financial fair play and had their transfer budget limited as a result.
They then spent almost £100m on new signings last summer, but Al Mubarak maintains the club still made money under Sheikh Mansour, whose Abui Dhabi United Group bought City in 2008.
He added: "We have made a profit again. We are constantly moving in the right direction financially as a club.
"One of the things I'm particularly proud of is that Sheikh Mansour had a view from day one, a dream, that he would invest in a club, he would build value, he would put a lot of commitment to it and that club would be financially sustainable and profitable.
"That dream is still reality right now. It's a reality, it works and today we are a top club in the world. We are financially sustainable and we consistently profitable."
