After buying 65% stake in the club in 2019, Mumbai City will now return to full ownership of Bollywood actor Ranbir Kapoor and businessman Bimal Parekh.
“The founders will take full control of the organization going forward,” Mumbai said in a statement on their official website.
“CFG has made this decision following an extensive commercial review and in light of the ongoing uncertainty surrounding the future of the Indian Super League.”
The decision to walk away from the ISL is a huge vote of no confidence in both the league and the All India Football Federation (AIFF) board.
The league was suspended in July after negotiations for an extension of the AIFF’s contract with its commercial partners, Football Sports Development Limited, hit a roadblock. The commercial agreement, signed in 2010, was suspended after India’s Supreme Court ordered the AIFF not to renew the deal with FSDL until it issued an order to implement a new constitution for the federation in a separate case.
Before Christmas, AIFF formally rejected major proposals submitted by both ISL and I-League clubs that explored a club-led ownership or operating model for the league.
Under CFG, Mumbai City created history in the 2020-21 season by becoming the first club to complete the double by winning both the ISL League Winners’ Shield and the ISL Cup. They won another League Winners’ Shield in the 2022–23 season after a record-breaking unbeaten run of 18 matches. Mumbai City also became the first Indian team to win an AFC Champions League match.
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