CFG, which owns several top clubs including Manchester City, had acquired a 65% stake in Mumbai in 2019, with the club going on to win two league titles.

Former India head coach Igor Stimac will reportedly receive $400,000 (approx. Rs. 3.36 crore) from the All India Football Federation (AIFF) as a settlement payment.

Football has struggled to find its feet in the cricket-obsessed nation of 1.4 billion people, with former FIFA president Sepp Blatter once calling India "a sleeping giant" of the sport.