The City Football Group’s decision to step away from Indian football has brought renewed attention to the instability surrounding the domestic game. Mumbai City FC have formally notified the All India Football Federation that CFG will divest its 65 per cent stake in the club, transferring ownership back to Mumbai City Football India Pvt Ltd, which is jointly owned by Ranbir Kapoor and Bimal Parekh. The move comes six years after the global football conglomerate entered India by acquiring a controlling share in the Mumbai-based club.
CFG, which operates clubs across 13 countries on five continents, added Mumbai City to its portfolio in November 2019. At the time, Indian football was riding a wave of optimism following the national team’s Asian Cup showing, competitive results against Qatar, and a restructured domestic pyramid that positioned the Indian Super League as the top-tier competition. CFG had announced its intent to “deliver transformative benefits to Mumbai City and Indian football.”
That optimism has since faded. Indian football has been without league action for over eight months since the ISL season concluded on April 12, a stark contrast to the eight-month league cycles typical in established football nations. Talks between the AIFF and ISL clubs are scheduled for December 26 and 29, but uncertainty remains over whether the league will resume this season.
The disruption stems from the expiration of the AIFF’s agreement with a Reliance subsidiary on December 8, 2025. Signed in December 2010, the deal allowed the company to operate the league in exchange for an annual fee of approximately Rs 50 crore. Negotiations for an extension failed, and the AIFF’s search for alternative investors was hindered by a Supreme Court order limiting investor involvement in league operations.
Other ISL investors may consider the same
CFG’s exit has raised concerns that other ISL investors could follow if a long-term solution is not established. It also presents a discouraging signal to potential international partners evaluating Indian football.
During CFG’s tenure, Mumbai City benefited from integration into a global football network that includes clubs such as Manchester City, Girona, New York City, Melbourne City and Yokohama. The influence extended to management structure, recruitment strategy and on-field philosophy, aligned with Pep Guardiola’s possession-based approach. This period saw Mumbai City evolve into a dominant ISL force, winning league titles in 2020–21 and 2023–24, along with the League Shield in 2022–23.