Bloomberg/Howard Barlow
by Kudakwashe MuzoriwaAbu Dhabi-owned City Football Group (CFG), the owner of English Premier League champions Manchester City has sold a 10 per cent stake to US-based private equity firm, Silver Lake, valuing the soccer club’s owner at $4.8 billion.
The 10 per cent investment is valued at $500 million and the proceeds from the investment will be used to fund international business growth opportunities as well as develop further CFG technology and infrastructure assets.
Khaldoon Al Mubarak, the Chairman of City Football Group, said, “Silver Lake is a global leader in technology investing, and we are delighted by both the validation that their investment in CFG represents and the opportunities for further growth that their partnership brings.”
CFG has grown exponentially since it was set up in 2014. The company has expanded with acquisitions of Melbourne City FC and a majority stake in New York City FC. Additionally, the company also has minority stakes in Spanish football club Girona FC, Chinese club Sichuan Jiuniu FC Japanese club Yokohama F. Marinos and Uruguayan Club Atlético Torque.
CFG stated that Silver Lake is the second major partner in the soccer club group and around 12 per cent of the group’s equity remains held by a consortium of Chinese institutional investors led by China’s leading media and entertainment conglomerate CMC.
CFG’s Manchester City posted $692 million revenues for last season, with the English Premier League champions posting a profit for the fifth straight year. Pep Guardiola's men completed an unprecedented quadruple of England's domestic trophies by winning the Premier League, FA Cup as well as League Cup and Community Shield.
MOST READ
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
