As Manchester City buys A-League's Melbourne Heart, we look at the rapid rise of the EPL club

MANCHESTER City's rise to become one of the biggest clubs in world football has taken place a dizzying speed.

It is the story that defines modern football. Manchester City's rise to become one of the biggest clubs in world football has taken place a dizzying speed, and from a club that once yo-yoed between relegation and promotion, City is now one of the premier brands in the global game.

One of the true sleeping giants of English football, City's swift rise to the elite came in 2008, when the Abu Dhabi United Group - now called the City Football Group - bought the club and brought with it the riches of the Abu Dhabi royal family.

The first season of City's resurgence started with a bang as the new owners sanctioned a then British record-breaking transfer of Brazilian star Robinho from Real Madrid for $60m, along with the likes of Vincent Kompany, Jo, and Nigel de Jong.

Then manager Mark Hughes, suddenly finding himself in charge of a footballing behemoth, struggled to keep up as City finished 10th in the Premier League, an inauspicious beginning to the new era.

It's not easy being a manager at Manchester City.

Next season, City made an even bigger statement by stealing Carlos Tevez from cross-town rivals Manchester United for $46m. The Sky Blues rubbed salt in the wounds with a cheeky "Welcome to Manchester" billboard that made headlines around the world. But a fifth-place finish meant there was still work to do on the field.

The club finally broke its 35-year trophy drought the following season, as Italian legend Roberto Mancini took over as manager and guided City to an historic FA Cup win. Of course, there were more big signings, including Yaya Toure from Barcelona, David Silva from Valencia, Mario Balotelli from Inter, among others.

Sergio Aguero has been a brilliant purchase for Manchester City.

But if City fans enjoyed that FA Cup win, nothing could prepare them for what came next. Sergio Aguero was the biggest signing in a relatively quiet recruitment phase - but the Argentine decided the fate of the whole season, scoring a stoppage-time winning goal in the final game on the final day of the season to give Manchester City its first championship since 1968.

And they did it at the expense of Manchester United.

After finishing second last season, City again moved forward, appointing Manuel Pellegrini as head coach and investing in a raft of world-class talent, including Fernandinho, Jesus Navas, and Alvara Negredo.

Currently second on the ladder, City is most peoples' favourites to claim its second Premier League title, ahead of Arsenal and Chelsea. Halfway through the season, Pellegrini's irresistible team has already become the first to score 100 goals before the end of January.

Off the field, the club continues to grow and invest. In May 2013, City entered into a joint venture with the New York Yankees to start a new Major Soccer League club, New York FC. It's a fascinating step into one of the fastest-growing leagues in the world, and all the obvious financial opportunities the US offers.

New York City FC head coach Jason Kreis.

New York FC already has a coach in Jason Kreis, said to be the best young manager in the MLS, and is reported to be on the verge of a building a new $400m, 28,000-seater stadium in the Bronx, ready to kick off in 2015.

City have had a foothold in New York for a few years, with a grassroots youth program - boasting a rooftop field funded by the club - running in Harlem since 2012.

Just what Manchester City's deal means for Melbourne Heart remains to be seen but there is no doubt this is one of the biggest things to happen to Australian football in some time. It's been a tough ride for Heart fans of late - but it looks like those who stuck with the club might just get their reward.