Cash-rich English Premier League squad Manchester City FC is setting up a franchise in the prosperous Chinese Super League next season according to recent reports.
ESPN reported that the "City Football Group, the holding company that owns Manchester City and New York City FC, plan to set up a franchise in the booming Chinese Super League as the next step in their global expansion".
The report continued that the company wants to "have a network involving one team with the title 'City' on each continent, creating unique commercial opportunities while greatly strengthening their flagship Premier League club's identity" and the Chinese top flight is said to be "viewed as the natural next destination".
City Football, a holding firm under the Abu Dhabi United Group, also currently operates Melbourne City FC in Australia and owns a minority share of the Japan-based Yokohama F. Marinos.
There were rumors that a "Shanghai City" squad is being proposed to the Etihad residents, but there are no official announcements yet of the final chosen location where the franchise will be placed.
The Chinese Super League, the Far East nation's division 1 association football competitions, had an exceptional growth as it entered 2016, with its teams acquiring numerous European and South American world-class talents, such as Alex Teixeira, Jackson Martinez, Ramires, Gervinho, Fredy Guarin, and Ezequiel Lavezzi during the winter transfer window.
In the aftermath, the league earned the distinction of spending the most during the winter window, even surpassing the expenditures of the mighty English Premier League, making them the "fastest growing league in football" today.
In a move aimed to "leverage the incredible potential that exists in China", as per club chairman Khaldoon al-Mubarak, Manchester City agreed to a £265 million investment deal given by Chinese conglomerate China Media Capital in December of last year. The amount will compensate for a 13% stake in the franchise that is valued at around £2.1 billion ($3 billion), according to The Guardian.
The approval of the deal is said to be the most recent move of the City Football Group to further advance its "global presence" as the company considers the China market to be an "exponential growth pathway" for the sport.