US private equity firm buys $500M stake in City ownership

MANCHESTER, England (AP) — A U.S. private equity firm has bought a $500-million stake in the Abu Dhabi-controlled ownership group that runs Manchester City and other soccer clubs around the world.

City says in a statement that Silver Lake now owns just over 10% of City Football Group, of which the English champions are the flagship club. There are also partnership clubs in New York, Melbourne and Yokohama, among others.

CFG says the deal values the group at $4.8 billion. Silver Lake becomes the second major partner in the group, with a Chinese consortium owning 12% of the equity.

Khaldoon Al Mubarak, chairman of CFG, says the ownership group is “delighted by both the validation that their investment in CFG
Read more…

Please follow and like us: