Mumbai, Dec. 26 -- Mumbai City FC announced that the City Football Group Limited (CFG) has "divested its shareholding" in the club, and the founding owners of the club will control the club fully moving forward.

This move by CFG comes amid uncertainty over the future of Indian domestic football, with its tier-one and tier-two leagues, the Indian Super League (ISL) and I-League failing to find any bidders. Mumbai City FC is in the ISL and was being administered by CFG to since 2019, which also owns Manchester City, Melbourne City, and New York City, among others.

In a statement, Mumbai FC announced, "Mumbai City FC (the Club) can confirm that City Football Group Limited (CFG) has divested its shareholding in the Club. The founding owners...