City Group will need to reduce its stake in either Manchester City or Girona (Spain) so that both teams can participate in the upcoming edition of the Champions League. On June 3, the investment group must present a plan to UEFA that complies with the multiproperty law.
For this purpose, the European body has provided two options to the City Football Group, which owns 100% of the rights to Manchester City and 47% of those of Girona. The investment group must reduce its stake in the Catalan team from 47% to 30%.
UEFA gave Girona the go-ahead to play its Champions League matches at the Montilivi stadium
Additionally, UEFA has put another option on the table for City Group, due to the limited margin of maneuver, as they must submit the plan by June 3. The European organization has proposed to the investment group to transfer all the shares of a club, in this case Girona, to a blind trust supervised by a panel designated by UEFA, whose administrator can be chosen by City Group itself.
This technique has already been used this season by Milan and Toulouse, as both share an investor, RedBird Capital, and competed in the same European competition, the Europa League.
City Group must take one of these measures before June 3 to ensure the presence of both of its clubs in the next edition of the Champions, because if they don't, Girona will not be able to play in the top European competition and will be relegated to the Europa League.
Additionally, if UEFA approves the plan presented by the City Group, Manchester City and Girona will not be able to transfer players between each other, permanently or on loan, until September 2025. The Catalan team will also have to make changes to the board of directors, as there are three executives who are part of both clubs, and UEFA does not allow individuals to make decisions for two different teams competing in the same competition.