May 12, 2020 - Sports

City Football Group's Lommel SK purchase expands its empire to Belgium

Map: Aïda Amer/Axios
Map: Aïda Amer/Axios

City Football Group has purchased second-division Belgian soccer team Lommel SK, adding a ninth club to its worldwide portfolio.

Why it matters: CFG is run by the Abu Dhabi royal family and was recently valued at $4.8 billion, making it the second most valuable enterprise in all of sports behind the Dallas Cowboys.

"We were attracted to Lommel's culture, training facilities and commitment to youth development and we look forward to learning from their approach and helping the club to evolve in the months and years ahead."
— Ferran Soriano, CEO, City Football Group

The backdrop: After buying Manchester City in 2008 and quickly turning it into a juggernaut through massive spending, CFG has continued purchasing teams in key markets in hopes of building a global sports and entertainment giant.

Go deeper: Inside the City Football Group empire

Go deeper