10 Chinese companies snap up top overseas sports teams

2 CMC & CITIC

Players of the starting line-up of Manchester City before competing against Borussia Dortmund during the Shenzhen match of the 2016 International Champions Cup China in Shenzhen city, south China's Guangdong province, July 28 2016. [Photo/IC]

Chinese investors China Media Capital (CMC), a public equity and venture capital firm, and CITIC Capital, a Sate-owned investment company, have bought a 13 percent stake in the parent company of Manchester City Football Club for $400 million (377 million euros) on Dec 1, 2015.

The City Football Group is a holding company established to oversee the creation and administration of a network of linked clubs and other football operations under the aegis of Manchester City.