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City Football Group (CFG) has acquired a majority stake in ESTAC Troyes, with the Ligue 2 side becoming the tenth club to join the holding company’s growing football portfolio.

As a result of the acquisition, CFG has become the new majority shareholder in Troyes, having purchased the shares owned by Daniel Masoni, the club’s previous owner. Moreover,  French businessman Maxime Ray has also acquired a minority stake in the Ligue 2 side and will hold a seat on Troyes’ board.

Ferran Soriano, Chief Executive of City Football Group, stated: “We have had an interest in French football for some time and have long admired ESTAC, so we are delighted to have completed the acquisition of our tenth club and have a permanent presence in France. This is a milestone for City Football Group and demonstrates how our model continues to adapt and grow in a relatively short space of time.

“At City Football Group, our objective remains to play beautiful football, identify and develop grassroots talent and have a permanent presence in the world’s football centres. There is no doubt that France is one of the top football countries in the world and we are proud to be part of that community.

“We look forward to getting to know our new home and the club’s fans and working together to create a bright future for ESTAC. We would also like to thank Mr Masoni for all his contributions to the club.”

ESTAC Troyes were founded in 1986 and currently play in the 20,400 capacity Stade de l’Aube. The club was crowned Ligue 2 champions in 2014-15, and last season finished fourth place before the campaign was prematurely concluded.

This is CFG’s second club acquisition this year following the purchase of Belgium side Lommel SK as a majority shareholder. The holding company also owns the likes of  Manchester City FC, New York City FC, Melbourne City FC, Yokohama F. Marinos, Montevideo City Torque, Girona FC, Sichuan Jiuniu FC and Mumbai City FC.