Manchester City have confirmed that City Group have sold a ten per cent stake to American investment company Silver Lake.
In a statement released this morning, City remarked:
"Silver Lake, a global leader in technology investing, has signed a definitive agreement to make a US$500 million equity investment, equivalent to just over 10% of the company's post-investment value. The deal values City Football Group at US$4.8 billion post-investment.
"CFG is the owner of football clubs and related businesses, including Premier League Champions Manchester City FC, New York City FC, Melbourne City FC, Yokohama F. Marinos in Japan, Club Atletico Torque in Uruguay, Girona FC in Spain and Sichuan Jiuniu FC in China. The company has more than 2,000 employees in 12 locations globally, overseeing more than 1,500 players and 2,500 games annually, and delivers a unique global platform to its commercial partners.
"The proceeds from the investment will be used by City Football Group to fund international business growth opportunities and develop further CFG technology and infrastructure assets."
City chairman Khaldoon Al Mubarak also 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. 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."
He added: We welcome the opportunity to work with Egon and the Silver Lake team and its network to facilitate the global growth and deepening of CFG Club fan-bases and the development of our business as a whole."
