Multi-club ownership is not uncommon in football these days, a circumstance that made the news this summer.
Having won the FA Cup for the first time in their history, Crystal Palace were relishing the prospect of competing in the Europa League this term, that was until UEFA stepped in, demoting the Eagles to the Conference League instead.
With US businessman John Textor owning a stake in the club, as well as being the majority owner of Lyon, it was deemed to be a potential conflict of interests, as Lyon too had qualified for the competition.
Palace are currently appealing the decision, citing double standards in Manchester City and Girona being allowed to participate in the Champions League last year, despite both clubs being owned by the City Football Group (CFG).
UEFA’s argument in response takes us into the weeds of small print that essentially says it’s fine for companies to own two or more clubs competing in the same tournament. It is not permissible however when it concerns individuals.
CFG of course were one of the original examples of multi-club owners with the energy drinks giant Red Bull another. Along with Red Bull Salzburg and New York Red Bulls, they have varying stakes in a number of other clubs, including RB Leipzig and Leeds United.
As impressive a stable it is though – with eight affiliated clubs all told, falling under their umbrella - what they lack is a behemoth, a standard-bearer that resides among the very elite in world football.
That’s what CFG possess in Manchester City, the club where it al began for them.
Manchester City
On August 4th, 2008, a newly founded private equity company named the Abu Dhabi United Group purchased Manchester City lock, stock and barrel.
The takeover of the top-flight side seemingly took everybody by surprise but it didn’t take long before it dominated the news cycle, especially as the owner of ADUG was Sheikh Mansour bin Zayed Al Nahyan, a prominent member of the Abu Dhabi royal family.
At his disposal was wealth unimaginable, resources that could utterly transform the club to the point of making them a global superpower.
To demonstrate this, on the same day the takeover was officially confirmed, City signed Robinho from Real Madrid. Just three months prior they had lost 8-0 up at Middlesbrough.
What happened next to the Blues is a tale familiar to us all, the club growing ever-more in stature, going on to sign the ilk of Sergio Aguero, David Silva and Keven De Bruyne.
In the 17 years post-takeover they have won eight league titles, 13 domestic cups and the Champions League. Perennially they are hot favourites in the Premier League betting.
Yet if we focus on the rise of the City Football Group we must go back to September 2012, to a key signing. In this instance it is not the purchasing of a player but rather the appointment of a new CEO, lured across from Barcelona. His name is Ferran Soriano.
It had long been Soriano’s vision to conceive a global footballing entity, something he had attempted with middling success in Catalonia.
At City however he now had the resources – and wholesale backing – to do it properly.
In May 2013, New York City Football Club came into being, officially announced as the MLS’s 20th expansion team. Founded by the newly established City Football Group, the club’s first team strip would of course be sky blue.
Soon after, CFG acquired a controlling stake in the Australian A-League side Melbourne Heart. They were subsequently rebranded as Melbourne City.
On the pitch in Manchester, Roberto Mancini and his successor Manuel Pellegrini were set on building a dynasty. Off it, Soriano was constructing an empire.
Who are City Football Group?
CFG is majority owned by ADUG, their stake accounting for 81% of the company.
In 2019, 10% of the company was sold to US private equity firm Silver Lake for $500m, a deal that valued CFG at $4.8 billion. Silver Lake has since purchased a further 8%.
The remaining 1% is held by two Chinese firms, China Media Capital and CITIC Capital.
In 2025, CFG have total, or partial, ownership of 12 clubs, spread across the globe, while also partnering four clubs, those being – Vannes in France, Istanbul Basaksehir, Geylang International in Singapore, and Club Bolivar in Bolivia.
They have also invested significantly in the women’s game, with Manchester City Women, Girona Femeni, Palermo Women and Melbourne City Women under their domain.
Naturally, with the CFG based in the UK, and given the enormous scale and scope of their original club, Manchester City is the flagship of the far-reaching enterprise. Here are the other 11, in order of purchase or conception.
New York City
Playing their football at the iconic Yankee Stadium, the ‘Pigeons’ have experienced mixed fortunes since joining the MLS franchise in 2015.
In 2021, they won the MLS Cup while for four years fans delighted in the sight of live betting favourite David Villa leading their front-line, a striker always capable of upending the odds when in sight of goal.
But there has also been plenty of disappointments too from a club that perhaps could have kicked on more considering the funding available.
Melbourne City
Previously, Melbourne Heart, the Australian side have also benefitted from having Villa leading their line, on loan in 2014.
Success has come to AAMI Park post-takeover, with two A-League titles won as well as three near misses.
Yokohama F. Marinos
Extending their reaches to Asia, CFG partnered up with Nissan in 2014 to take over the Tricolor, who compete in Japan’s J1 League.
Two league titles have been won since, in addition to numerous mid-table finishes.
Montevideo City Torque
Residing in the Uruguayan top-flight after achieving promotion last year, Torque have been part of the CFG roster since 2017.
In 2021, an academy was completed near to the stadium, intended to develop emerging and exciting South American talent.
Girona
In the summer of 2017, CFG purchased a 44.3% stake in the Catalonian side, an identical share to what is held by Girona Football Group. The latter is run by Pere Guardiola, brother of Pep.
Relegation to Segunda Division occurred soon after the takeover but the White and Reds have bounced back brilliantly, over-achieving in 2023/24 by finishing third in La Liga.
One of their stand-out stars of that season, the winger Savinho, transferred to Manchester City that summer for a mutually agreeable fee of £30.8m.
Shenzhen Peng City
Making inroads into the highly profitable Chinese market, CFG secured partial ownership (47%) of Peng City in 2019.
The club was only founded in 2017, originally named Sichuan Jiuniu and limited by their amateur status. It now competes in the Chinese Super League.
Lommel
As the club approaches its centenary year, Lommel compete in the Belgian second tier, their ambitions now loftier from CFG’s controlling interest.
It is all a far cry from seismic struggles endured across the 2000s, when they lost their professional status.
Troyes
CFG secured a majority stake in the French outfit in September 2020 and ever since it’s been a rollercoaster ride for a club reborn in 1979 after going bust.
A promotion to Ligue 1 was quickly followed by relegation to Ligue 2. They even dropped to the third tier until they were saved by a reshuffle of participants.
Presently, Troyes appear to have stabilised. We will see.
Palermo
The famous old club all-but ceased to exist in 2019, excluded from all professional leagues in Italy after being unable to meet even basic financial obligations such as insuring their ground.
A phoenix club was duly born, one that swiftly rose through the divisions. It was a resurrection that was assisted by a CFG takeover in 2022. I Rosanero compete this term in Serie B.
Mumbai City
The Islanders’ enjoyed a global presence long before CFG acquired a 65% stake in 2020, appointing Peter Reid to their dug-out six years prior and bringing over marquee talent such as Nicolas Anelka and Freddie Ljungberg to India.
Bahia
The Brazilian top-flight side enjoyed huge success in the Eighties before encountering sustained troubles that sent them spiralling down the football pyramid.
Revived in recent years they were taken over by CFG in late 2022, with 98.6% of club members voting for it. Unlike several of their peers however, Bahia insisted on retaining their club colours and badge.
*Credit for the main photo belongs to Alamy*
