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Tuesday, June 25, 2024
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Manchester City Lands Deal With World’s Richest Team Owner

  • Mukesh Ambani has a net worth of $88.7 billion, per Forbes
  • Manchester City is the sixth-most-valuable soccer team in the world at $4.25 billion.
MCFC

Manchester City is joining forces with the world’s richest sports team owner. 

The Premier League club has secured a deal with Jio Platforms — a tech conglomerate owned by Mukesh Ambani, owner of the Indian Premier League’s Mumbai Indians. 

As part of the pact, Manchester City’s streaming subscription service CITY+ will be included in the JioTV Platform. It will provide fans with access to live women’s matches, highlights, and other exclusive content. 

  • Ambani has a net worth of $88.7 billion, per Forbes, ahead of Los Angeles Clippers owner Steve Ballmer ($74.3 billion).
  • Manchester City is the sixth-most-valuable soccer team in the world at $4.25 billion.
  • The club is owned by City Football Group, which also owns New York City FC.

The energy and tech entrepreneur has also expressed interest in a takeover deal for Liverpool. 

Potential Upgrades

Manchester City plans to conduct studies to determine the viability of a new development project centering on Etihad Stadium, the club’s home field since 2003.

Premier League champion banner outside of Manchester City's Etihad Stadium

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The stadium has a capacity of 53,400, and potential development plans would increase it to more than 60,000. A development project would also include a hotel, a new club shop, and a museum. CFG has spent more than $834 million on infrastructure projects in Manchester. 

City will hold formal consultations about the project in the coming months.

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