Wednesday 8 June 2016 10:24 am

Manchester City owners City Football Group looking at more club takeovers, chairman Khaldoon Al Mubarak confirms

Manchester City's owners City Football Group (CFG) are looking to add to their stable of clubs, chairman Khaldoon Al Mubarak has revealed.

As well as Man City, CFG owns Major League Soccer franchise New York City and Australian team Melbourne City and has a stake in Yokohama F. Marinos.

Yet the holding company for ultimate City owner Sheikh Mansour's football interests has already identified potential future additions to its globe-spanning roster.

Industry insiders have told City A.M. it is only a matter of time before CFG extends its operations to China, but Al Mubarak would not be drawn on where exactly was being targeted.

"Today we have four clubs and we are going through the development of the four clubs," the chairman told City TV. 

"Melbourne City, New York City and Yokohama F. Marinos are developing well. We have an ambition as a football group to have an organisation that is global and will have multiple clubs that is a part of it.

Read more: How Manchester City and China could help each other conquer the world following £265m investment

"So I would say that when the opportunity arises, and we are looking at opportunities, you can expect us to add to the number of clubs we have already within the organisation.

"It's too early for me to pinpoint [the location]. We're looking at opportunities, we'll see how it goes. At the right time, the right place, we will tell you."

CFG sold a 13 per cent stake to a Chinese consortium led by the state-backed China Media Capital Holdings (CMC) last year, yet Al Mubarak refuted the suggestion this marked the first step in a move from Sheikh Mansour to sell the club he has ploughed over £1bn into since buying them in 2008.

"I wouldn't dare suggest that to Sheikh Mansour. Sheikh Mansour is a deeply committed owner and deeply passionate about this organisation, this group and particularly Manchester City.

"We have made a profit again. We are constantly moving in the right direction financially as a club…We are a top club in the world, we are financially sustainable and we are consistently profitable."