City Football Group Expands To 11 Teams
City Football Group (CFG), the parent company of Premier League champions Manchester City, now has 11 teams in its portfolio following the acquisition of Eerste Divisie football club NAC Breda.
Although financial terms have not been disclosed, the deal is reported to be around £5.9m. Shareholders have opted to sell their stakes in the team, which has been on the market since last summer. Dutch sports agency Crossminds has been overseeing the sale.
Breda, which plasys in NAC the Dutch second-tier, confirmed that it had reached an agreement with CFG in an official club statement, explaining that the sales process is now in its ‘final phase’. The agreement now needs approval from Breda’s supervisory board, the NOAD Foundation, Dutch soccer’s governing body the KNVB, and the local municipality to finalise the takeover.
The City Football Group has been a long-term partner of Breda since 2016, with 14 of the Dutch outfit’s players loaned to other clubs in the ownership group’s portfolio.
The announcement comes nearly a year after CFG secured a seven-year, £500m loan underwritten by Barclays to invest in its international football network.
CFG already has a portfolio of ten clubs. In addition to Manchester City, CFG’s roster includes Major League Soccer champions New York City FC, Melbourne City in the A-League, and Spanish second-tier side Girona.
