"I am super-thrilled for this day. All of us at the Mumbai City FC, the ambition is to make it the best football club in Asia and today I am thrilled to announce City Football Group's association with Mumbai City Football Club," Ranbir said in a video message after the announcement was made at Famous Studios in the presence of Chairperson, Football Sports Development Limited and Reliance Foundation Nita Ambani.
The owners of Premier League champions Manchester City will have majority stake while Ranbir and film producer Bimal Parekh will hold the remaining 35 per cent of shares.
"With this tie up, we hope to replicate what Manchester City has done in English Premier League and that is to win everything in front us. City Football Group's interest in India shows the growth opportunities the country presents in football," said Ranbir.
"City Football Group is committed to the future of football in India and to the potential for Mumbai City FC," Chairman of City Football Group Khaldoon Al Mubarak said.
"We are very much looking forward to playing an active role in Mumbai City FC's fan and local communities, and working with our co-owners to further develop the club as quickly as possible."
The CFG's operations will now include eight football clubs and football related businesses in 13 offices around the world. The group has expanded significantly since its inception in March 2013, and now employs more than 2,000 staff and has more than 1,500 footballers who play over 2,500 games every year.
Through its Cityzens Giving campaign, CFG has also supported community programmes spanning six continents, including Mumbai in its 2019 edition.
( With inputs from IANS )