Manchester City’s Owners City Football Group Reach Agreement to Invest in Turkish Giants Istanbul Basaksehir: Reports

In the past few years, the fortunes of Manchester City have significantly changed. Ever since the Premier League side was taken over by the UAE’s billionaire deputy minister, Sheikh Mansour, the club has garnered immense success. But now it seems the City Football Group is keen to savor success with another European giant, as they have reportedly struck an agreement with Turkish side Istanbul Basaksehir. 

Istanbul Basaksehir is not enjoying a good domestic season so far. The Turkish giants are sitting in 14th place in the Super Lig. But it seems all that is about to change. 

Manchester City owners have agreed to buy Istanbul Basaksehir

Hours ago, Turkish journalist Omer Necati Albayrak reported that City Football Group had successfully concluded negotiations with Istanbul Basaksehir on the share sale. Reports indicate that Başakşehir has received the initial payment. An official announcement regarding the sale of stakes from Basaksehir is likely anticipated shortly. Notably, three entities jointly own City Football Group Limited, which acts as a holding company for football clubs. Abu Dhabi United Group holds an 81% majority holding, while American corporation Silver Lake owns an 18% stake, and Chinese firms China Media Capital and CITIC Capital jointly control a 1% share.

Goksel Gumusda, a Turkish businessman and former club president, previously controlled the club. Later on, though, the Ministry of Youth and Sports assumed command. Now, it seems the Grey Owls are in for another owner transition, with CFG being indicated as the ideal investor. Interestingly, if a deal strikes between the two parties, then Başakşehir would become the 14th club on the list of the City Football Group’s soccer clubs. Speaking of which, let’s dive deeper into their other investments. 

Other investments of City Football Group

Aside from completely buying the Premier League giants Manchester City for $264 million, CFG has an 80% stake in MLS side New York City FC, 44.3% in Spain’s Girona, and 80% in Australia’s Melbourne City. Meanwhile, they have minority stakes in French side Troyes, Japan’s Yokohama F Marinos, Uruguay’s Montevideo City Torque, Belgian side Lommel SK, and Bolivia’s Club Bolívar. 

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Furthermore, they also have a 28% stake in China’s Sichuan Jiuniu and a 65% stake in the Indian side, Mumbai City. The biggest stakes that CFG has are 94.5% in Italy’s Palermo and 90% in the Brazilian side, Bahia. 

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