Man City extends footprint with Aussie club swoop
Source:thebusinessdesk 2014-1-24 9:43:00
MANCHESTER City FC has boosted its global presence by buying a 80% stake in an Australian A-League football club.
The Blues, which last year announced a bold move to launch New York City FC, are buying Melbourne Heart FC in partnership with owners of rugby league club Melbourne Storm.
The consortium also includes the ownership group of the Melbourne Storm as minority shareholders with the remaining 20% shareholding.
Ferran Soriano, chief executive of Manchester City, said: "We are excited about the opportunity to make Melbourne Heart one of the most successful football clubs in Australia and throughout the region.
"We believe the strong sports culture of Melbourne combined with the football and commercial expertise within our consortium will make for a powerful combination both on and off the pitch."
The undisclosed investment in Melbourne Heart FC follows the creation of New York City Football Club in May 2013 in partnership with the New York Yankees baseball team. New York City will enter Major League Soccer in the US in the 2015 season.
Closer to home City have also established Manchester City Women's Football Club, and signed a number of England players.