FC Basel 1893 Acquire 26% Stake in I-League Club Chennai City FC, Plan Academy
I-League club Chennai City FC and Switzerland's FC Basel 1893 signed a landmark deal in New Delhi on February 6. FC Basel has become the first foreign club to invest in an Indian side, acquiring 26% share of I-League contenders Chennai City FC. As part of the partnership Basel -- whose youth system has nurtured players such as Liverpool FC stars Mohamed Salah, Xherdan Shaqiri and Croatian star Ivan Rakitic -- will use their expertise to set up a talent scouting system in Tamil Nadu, a residential youth academy in Coimbatore, and roll out football schools across the country in the coming years. Chennai co-owners Rohit Ramesh and R Krishnakumar revealed details of the tie-up in the presence of FC Basel president Bernhard Burgener, CEO Roland Heri and other officials of FCB.
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