Manchester City owner adds ninth club to its global portfolio

City Football Group, owner of reigning English Premier League Champions Manchester City, has added a ninth team to its global portfolio.

The group has agreed a deal, reportedly in the region of £2m, for Belgian second-tier team Lommel SK.

It is understood that CFG will wipe out Lommel’s £1.75m debt as part of the deal.

Lommel is based in the province of Limburg, to the North East of Belgium, bordering the Netherlands.

The side was sixth in its division when coronavirus brought an end to the Belgian football season.

It plays at the 8,000-seater Soevereinstadion.

CFG chief executive Ferran Soriano said: “Belgium is one of Europe’s best football countries as demonstrated by the success of the national team and the development of world-class players, some of whom we know very well, like Kevin de Bruyne and Vincent Kompany.

“This investment is part of our long-term strategy to be present in key football countries, play beautiful football and develop talent.”

He added: “We were attracted to Lommel’s culture, training facilities and commitment to youth development and we look forward to learning from their approach and helping the club to evolve in the months and years ahead.”

CFG is owned by Manchester City’s owner Abu Dhabi United Group, with significant stakes held by American and Chinese shareholders.

It has has stakes in eight other teams – Manchester City, New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu and Mumbai City – playing in the US, South America, Japan, Australia, Europe and China.