Manchester | Manchester City’s owner has agreed to sell a $US500 million ($737 million) stake to Silver Lake in a deal that breaks a record in sports valuations and fuels the football group’s international expansion.
The US private equity firm is buying more than 10 per cent of City Football Group at a valuation of $US4.8 billion, injecting new capital into the Abu Dhabi-controlled organisation that owns Manchester City and affiliated teams in the US and China, according to several people with knowledge of the deal.
