Manchester City’s parent company, City Football Group (CFG), has held meetings in South Korea regarding the purchase of a K League club.
CFG held high-level meetings with several K League clubs during a visit to South Korea in July, according to a person familiar with European football news. The aim is to acquire stakes.
City’s activities in South Korea were extensive during the visit. In addition to the trial match with Atletico Madrid, the club also worked to expand its fan base in Korea through sponsorship activities and fan meetings. They also discussed the establishment of a football school with local governments.
City Football Group also sought to enter the Korean market through the acquisition of a domestic club. Senior officials from Man City, including CEO Ferran Soriano and CCO Esteban Calzada, also visited Korea. City Football Group met with several K League clubs prior to the visit and had a busy schedule of meetings.
The ultimate goal of the meetings is to acquire a stake. City Football Group has stakes in football teams in major countries around the world, including New York City (USA), Melbourne City (Australia), Girona (Spain), Mumbai City (India), Troyes (France), Yokohama Marinos (Japan), and Sichuan Jurno (China).
In the case of the most recognisable clubs, Man City, New York City and Melbourne City, the stakes are so high that they are effectively owned. Others, such as Yokohama Marinos and Sichuan Chugoku, have stakes of 20-30 per cent.
카지노The terms CityFootballGroup has offered in its meetings with K League clubs are also based on the acquisition of a low percentage stake. Given City Football Group’s history of aggressive expansion, it’s not unthinkable that it could increase its stake in the future.
City Football Group’s senior management left South Korea at the end of Man City’s visit, but it is understood to be in constant communication with some K League clubs.
One of the clubs City Football Group has met with is Jeonbuk Hyundai, the biggest club in the country. “It’s true that Man City recently contacted Jeonbuk,” said an official familiar with the club’s situation. However, “there have been no negotiations for a stake acquisition. We were introduced to what Man City is doing globally, and we talked about various possibilities and heard in principle whether we could collaborate. We will have another meeting in the future,” he said, but was cautious about the specifics of the negotiations.