CFG have now sold their stake in the Indian Premier League club.
In a statement, Manchester City's owners announced: "Mumbai City FC (the Club) can confirm that City Football Group Limited (CFG) has divested its stake in the Club. The founders will assume full control of the organisation.
"Since 2019, CFG and Mumbai City FC have achieved new milestones—winning the ISL League twice and two ISL Cup titles, strengthening the Club’s football operations and significantly contributing to the growth of the game in India.
"CFG made this decision following a thorough commercial review and in light of the ongoing uncertainty surrounding the future of the Indian Super League (ISL). This step reflects CFG's disciplined and strategic approach, ensuring its focus remains on areas where it can have the greatest long-term impact.
"CFG remains proud of its achievements and is deeply grateful to everyone connected to Mumbai City FC — from players and coaches to staff, fans and partners — for their commitment and passion, and looks forward to continuing its relationships and partnerships in India for years to come."