In December 2015, City Football Group (CFG) announced a partnership with a consortium of high profile Chinese institutional investors, led by China’s leading media, entertainment, sports and Internet dedicated investment and operating company China Media Capital (CMC) Holdings. The agreement saw the consortium of CMC Holdings and CITIC Capital invest US$400 million to take a shareholding in CFG of just over 13%. The deal values the Group at US$3 billion.
The capital from the share acquisition will be used by CFG to fund its China growth, support CFG international business expansion opportunities and further develop CFG infrastructure assets.
In October 2015, the President of the People’s Republic of China, President Xi Jinping, visited the City Football Academy in Manchester. This was the first time that a Chinese President had visited any British city except London on an official state visit.
The President, accompanied by then-British Prime Minister David Cameron, was hosted by Chairman Khaldoon Al Mubarak at the 80-acre youth development and first team training site in central Manchester, as part of a four-day trip to the UK.