The City Football Group have announced the acquisition of its seventh club, Sichuan Jiuniu FC in China.
The purchase was announced today at a press conference and is a joint acquisition between the CFG, Ubitech and China Sports Capital.
The Chengdu-based club currently play in the third tier of Chinese football and the hope will be that with CFG backing it can rise all the way to the wealthy Chinese Super League.
Manchester City and City Football Group CEO, Ferran Soriano, spoke at the press conference.
“Today marks an exciting new chapter in the growth of City Football Group,” said Soriano.
“China is an extremely important football market, which we have been focused on for some time. We see this as a natural extension of our existing activities.
“We believe strongly in the future of football in China. We are making a long-term, sustainable commitment to grow and develop Sichuan Jiuniu FC and to nurture Chinese footballing talent.
“These objectives are equally important. Our immediate focus will be strengthening our football performance, using all of our experience and know-how, forging a strong relationship with our fans and building a strong presence in the community. We cannot wait to get started.”