City Football Group (CFG), the owner of English Premier League Club, Manchester City, has sold a stake of just over 10% for £389.4 million ( $500 million) to American Private Equity firm, Silver Lake.
This deal shows the current champions of England are valued at £3.74 billion ($4.8 billion). In July, Forbes valued the club at £2.088 billion ($2.69 billion).
The company said in a statement that the funds would be used to fund international business growth opportunities and develop further CFG technology and infrastructure assets.
Silver Lake says it has over $43 billion in combined assets under management and committed capital and a team of approximately 100 investment and operating professionals located around the world.
The other investor at the club is a Chinese consortium headed by CMC Inc., which owns 12%. Sheikh Mansour remains the majority shareholder, owning 77%.
Khaldoon al-Mubarak, the CFG chairman, said: “We and Silver Lake share the strong belief in the opportunities being presented by the convergence of entertainment, sports and technology and the resulting ability for CFG to generate long-term growth and new revenue streams globally.”
CFG, as well as owning City, owns or has stakes in clubs in the US, Australia, Japan, Spain, Uruguay and China.
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