City Football Group (CFG) has divested its shareholding in Mumbai City FC, returning the Indian Super League (ISL) side to full control of its founding owners.
“Mumbai City FC (the Club) can confirm that City Football Group Limited (CFG) has divested its shareholding in the Club. The founding owners will assume full control of the organisation moving forward,” the club stated in an announcement on X.
CFG’s exit comes at a precarious moment for Indian football, with the future of the ISL itself clouded by uncertainty. The group indicated that its decision followed “a comprehensive commercial review and in light of the ongoing uncertainty surrounding the future of the Indian Super League (ISL).” It added that this move reflects CFG’s “disciplined and strategic approach — ensuring its focus remains on areas where it can have the greatest long-term impact.”
The purchase of a 65% share of Mumbai City FC in November 2019 by the Manchester City-owning conglomerate marked a watershed moment in ambition, professionalism, and globalising the club. The club experienced its greatest success during its six-year relationship with CFG.
“Since 2019, CFG and Mumbai City FC have reached new heights, winning two ISL League Winners’ Shields and two ISL Cup titles, strengthening the Club’s football operations, and making meaningful contributions to the growth of the game in India,” the statement said.
By using a data-driven recruitment model and developing the professional manager of their football operations, CFG had an immediate impact on Mumbai City FC. The 2020-21 season saw the club make history by winning both the ISL League Winners’ Shield and the ISL Cup, becoming the first team to achieve the double in one season.
The club won a second Shield in the 2022-23 season, remaining unbeaten during the league’s 18-match duration, a first in the ISL. Mumbai City FC also became the first Indian club to win an AFC Champions League match, marking a landmark achievement for Indian football on the continental stage.
CFG expressed that it remains “proud of the achievements” and “deeply appreciative of everyone connected to Mumbai City FC — from players and coaches to staff, fans, and partners,” while looking forward to continuing its relationships and partnerships in India in the years ahead.
With CFG exiting Mumbai City FC, the club is now fully owned by Ranbir Kapoor, film actor, and Bimal Parekh, a business tycoon. This news poses further challenges for Indian football, impacting the ISL, which currently lacks a confirmed calendar year for play, unresolved commercial contracts among teams, and no resolution from its ongoing governance impasse.
The exit of CFG also raises concerns about the league’s potential financial growth, decreasing the likelihood of attracting future investors or sponsors. Reports indicate that the AIFF (All India Football Federation) has formally rejected proposals from both ISL and I-League teams regarding club-led ownership or operations, exacerbating the rift between clubs and the federation.