Man City Close To Deal With Team In Uruguay To Expand CFG's Global Reach

Man City is "close to confirming a deal with a team in Uruguay as the next stage in City Football Group’s global expansion," according to Jack Pitt-Brooke of the London INDEPENDENT. Man City identified South America as its "next target" and believes that a partner club there "would help" with its commercial growth. Many top Premier League teams "see South American expansion as their next step, and have sent research missions to Brazil and Colombia to find similar arrangements." But Man City believes it has "beaten" its rivals and will announce the Uruguayan partnership soon. Man City CEO Ferran Soriano, the man overseeing CFG's global growth, has "always wanted one club on every continent for the group." The next stage of CFG's expansion after South America "will be into China." CFG sold a 13% stake to Chinese investors in '15 for £265M, valuing the whole enterprise at £2B (INDEPENDENT, 3/20).