Manchester City strike deal for MLS franchise
Manchester City will finance a New York-based football club in partnership with the Yankees
Manchester City have announced that they have partnered up with American Football team the New York Yankees to create a new franchise for the MLS.
The new franchise will take the name of ‘New York City Football Club’, according to Sky Sports, in a deal worth up to £66m ($100m). City chief executive Ferran Soriano said: “New York is a legendary sports town, as well as a thriving global city with a rapidly expanding soccer fanbase.”
The franchise will allow for a steadier flow of money for Manchester City after Sheik Mansour has spent the last few years injecting just over £1bn into the club.
So now he is looking to make the club more self-sustainable and – of course get some cash back – be able to accustom to the financial fair-play rules that come into play next year.
In terms of being able to become self-sustainable from this deal, City will become the majority shareholders in this new franchise and as a result will gain the better part of the profit that the new football club can provide.
Also, this will be a fantastic way to have a better way of finding better youth players of the game in America, having a club in the Premier League that effectively owns another club.
This again will offer some more protection against the damage the financial fair-play would have done them, as they will practically already own any promising players who will come through the ranks at the Queens based club.
A very smart move from City nonetheless, preparing early for the rules that are coming into force in England that are sure to hurt clubs like Chelsea and Manchester United, unless they do the same.
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