The club from Chennai is all set to acquire massive funds from Europe. Chennai City FC has already strategic partnership with top flight Switzerland club FC Basel. The I-League outfit signed an agreement with 20-time Swiss Super League champion back in 2019.
FC Basel holds 26% equity stake in the club that will also effect in terms of infrastructure and player development. Chennai City FC has been producing lot of talents for the Indian football in recent times. Likes of Soosairaj, Edwin Vanspaul, Nandakumar Sekar are all players who came up from the ranks of Chennai City FC.
The club is currently playing their games from Coimbatore and still keen to develop and produce more talents from Tamil Nadu. Rohit Ramesh’s club had a bottom-half finish last season in I-League with 21 points from 16 games. After their success in I-League 2018-19 season by becoming Champions, they had the high expectations in the following seasons.
The club from Tamil Nadu has the main moto to develop local talents and they did implement it last season as well by fielding a young side giving priority to them. The club might now get funding from Fund Sports Business, Zurich to improve the facilities and move forward with their goal.
‘We are overall looking to raise around €40 million (or approximately ₹340 crore). We already have an European partner on board (in FCB) so this allows us to try and look for investors who would want to invest in Indian football through our club,’ said Chennai City co-owner Rohit Ramesh to Times of India.
He added that,’The club is in the process of raising the second round of funding after the sale of 26% equity to FC Basel a year ago. We are inching close to around €20 million from sports funds in Europe. All investors will get equity in the club.’
‘We’ve spoken to several sports funds entities and high net worth individuals, all of whom are exploring the chance to come on board and invest. Since we already have FCB on board, it gives us a wider opening. We need to create the infra in Coimbatore. The funds will also ensure that we as a club are strong as far as our financial capabilities are concerned.’