Home »Sports News » World » FC Basel buys landmark stake in Indian club
Top Swiss side FC Basel on Wednesday bought a 26 percent stake in Chennai City, becoming the first foreign side to buy into an Indian football club. Chennai, which has only been in existence in India's I-League for three years, did not give the value of a deal that will see Basel help create a youth football academy.

But the Times of India newspaper said the European Champions League regulars would invest about 20 million euros ($22 million). "The money which they will pump in will be focussed completely in the youth set up and on the infrastructure," Chennai co-owner Rohit Ramesh told AFP after the announcement of the deal in New Delhi.

"This is a game-changer for us. Getting a European football club investing money is something which opens doors for potentially other clubs to also come in and invest," he added.

Copyright Agence France-Presse, 2019


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