A consortium of Chinese investors has purchased a 13% stake in football giant Manchester City’s parent company with 400 million USD. This is the latest move of China on the world football stage after President Xi Jinping urged his country to become a global football power. The consortium, including China Media Capital (CMC) Holdings and CITIC Capital, announced the deal on Tuesday. The City Football Group (CFG), which owns Manchester City, is now valued at an estimated 3 billion USD.
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