The owners of English Premier League champions Manchester City on Thursday made Mumbai City FC of India the eighth club in their global football empire.

Abu Dhabi-controlled City Football Group (CFG) announced the takeover of the Indian side the day after a U.S. equity fund pumped $500 million in cash into CFG, taking its value to $4.8 billion.

On top of the English champions, CFG also owns New York City FC, Melbourne City in Australia, Yokohama F. Marinos in Japan, Sichuan Jiuniu in China, Spanish second division side Girona and Club Atletico Torque in Uruguay.

Analysts say the 65 percent stake taken in Mumbai is more proof that CFG wants to build a global football-based entertainment conglomerate.

"City Football Group is committed to the future of football in India and to the potential for Mumbai City FC," said CFG chairman Khaldoon Al Mubarak.

"We are very much looking forward to playing an active role in Mumbai City FC's fan and local communities and working with our co-owners to further develop the club as quickly as possible."

(With input from AFP)