The City Football Group (CFG), the Abu Dhabi-based conglomerate known for owning Manchester City and stakes in 13 clubs across five continents, is reportedly set to pull out of Mumbai City FC. This decision comes amidst growing uncertainty surrounding the Indian Super League (ISL) and Indian football in general. CFG acquired a 65% stake in Mumbai City FC in November 2019.
According to sources, the primary reason for CFG's departure is the lack of clarity regarding league operations, the long-term structure, and the commercial direction of Indian football. The ISL 2025-26 season has yet to commence, and there is no confirmed league calendar. Furthermore, unresolved commercial agreements and a governance deadlock between the ISL clubs and the All India Football Federation (AIFF) have contributed to the unfavorable climate. ISL franchises have proposed a club-led league system to grant them more control over operations and commercial matters, but the AIFF has resisted these proposals.
The AIFF's financial situation also appears precarious. Reports indicate that the federation has limited funds but plans to spend a significant amount between January and May 2026, potentially leading to a substantial deficit. This financial strain, coupled with administrative uncertainty, has likely influenced CFG's decision to withdraw.
CFG's exit is viewed as a significant setback for Indian football. The group's investment in Mumbai City FC brought a more professional, data-driven approach to the club's operations. Under CFG's ownership, Mumbai City FC achieved considerable success, including winning both the ISL League Winners' Shield and the ISL Cup in the 2020-21 season, a feat unmatched by any other club. The club also secured another League Winners' Shield in the 2022-23 season and became the first Indian team to win an AFC Champions League match.
With CFG's departure, ownership of Mumbai City FC will revert to Bollywood actor Ranbir Kapoor and businessman Bimal Parekh, who held ownership before CFG's investment. Sources indicate that club operations will continue under Kapoor and Parekh.
The departure of CFG raises concerns about the future investment climate in Indian football. It sends a worrying message to potential investors, sponsors, and clubs, especially given the current uncertainty surrounding the ISL. The relationship between the ISL clubs and the AIFF is strained, with disagreements over the league's structure and commercial rights. The AIFF's rejection of club-led operational models and the formation of a committee to seek resolution have further fueled the concerns.
The ISL has faced financial challenges since its inception, with most clubs incurring losses each season. High operating costs, including salaries and infrastructure, coupled with weak local revenues and declining media viewership, have contributed to these losses. While the ISL has seen rising revenues, expenses have consistently exceeded turnover, leading to debt management issues for many franchises. The league's reliance on owners for financial support poses a challenge to long-term sustainability.
