The City Football Group (CFG) have announced the purchase of a seventh club, Sichuan Jiuniu FC, who ply their trade in China’s third tier. CFG have bought the Chinese side in a joint venture with Ubtech and China Sports Capital (CSC) and continues the groups Chinese expansion, having already opened offices in Shanghai and Shenzhen.
Ubtech, an AI and robotic company, has been a CFG partner since 2016. While CSC is a fund established by CFG two years ago.
CFG chief executive, Ferran Soriano, said that the acquisition of Sichuan Jiuniu marks “an exciting new chapter in the growth of City Football Group. China is an extremely important football market, which we have been focused on for some time.”
Soriano continued to say: “We believe strongly in the future of football in China. We are making a long-term, sustainable commitment to grow and develop Sichuan Jiuniu FC and to nurture Chinese footballing talent. Our immediate focus will be strengthening our football performance, using all of our experience and know-how, forging a strong relationship with our fans and building a strong presence in the community.”
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