MUMBAI: City Football Group, parent company of English Premier League champions Manchester City FC, Thursday confirmed the buyout of Indian Super League franchise Mumbai City FC.

The announcement, made in the presence of Mrs Nita Ambani, chairperson, Football Sports Development Ltd, comes within days of CFG concluding a $500 million equity divestment with tech investment giants Silver Lake, equivalent to just over 10% of the company’s post-investment value.