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Friday, July 19, 2024
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City Football Group Expands To 11 Teams

NAC-Breda
NAC Breda/Design: Alex Brooks

City Football Group now has 11 teams in its portfolio following the acquisition of Eerste Divisie soccer club NAC Breda.

Financial terms were not disclosed, but the deal was previously reported to be worth $7.7 million. The Dutch second-tier team’s shareholders opted to sell their stakes in the team as part of the deal — the team has been on the market since last summer. 

The announcement comes nearly a year after CFG secured a seven-year, $650 million loan underwritten by Barclays to invest in its international soccer network. 

  • The company has reportedly been looking to build a $1 billion arena for New York City FC, its MLS team.
  • CFG also organized a $138.2 million revolving credit facility, according to The Financial Times.
  • In 2020, CFG secured $2 billion from Abu Dhabi’s sovereign wealth fund Mubadala.

The UAE’s deputy prime minister’s Abu Dhabi United Group founded City Football Group in 2013 and holds a 78% stake. CFG reached a $4.8 billion valuation in 2019.

CFG’s Big Picture

The most notable club on CFG’s roster is Premier League Champions Manchester City. The club passed Manchester United’s revenue for the first time ever last season, reaching $735.9 million compared to United’s $636.3 million.

NAC Breda adds to the company’s other clubs, which include Melbourne City, Yokohama F. Marino, Montevideo City Torque, Girona FC, Sichuan Jiuniu, Mumbai City FC, Lommel SK, and Esperance Sportive Troyes Aube Champagne.

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