Private equity firm Silver Lake buys $737m stake in Manchester City FC owner City Football Group

US private-equity firm Silver Lake takes 10 per cent stake in owner of Manchester City FC for $737m.

Gabriel Jesus of Manchester City controls the ball in the air as Andriy Pyatov of Shakhtar Donetsk attempts to save during the UEFA Champions League group C match between Manchester City and Shakhtar Donetsk at Etihad Stadium on November 26, 2019 in Manchester, United Kingdom. Picture: Getty Images

US private-equity firm Silver Lake has invested $US500m ($737m) in City Football Group, the owner of Manchester City FC and New York City FC, valuing the soccer company at $US4.8bn ($7.1bn).

City Football Group said on Wednesday that Silver Lake is taking a stake of just over 10 per cent and will take up a seat on its board.

“We are excited to partner with the board and CFG’s world-class management team to help drive the next phase of CFG’s growth in the fast-growing premium sports and entertainment content market,” said Egon Durban, a managing partner of Silver Lake.

City Football Group owns the current English Premier League champions Manchester City and a portfolio of other clubs across Europe, the US, Asia and Australia.

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The majority existing shareholder is Abu Dhabi United Group, owned by Mansour bin Zayed Al Nahyan, a member of the royal family of the United Arab Emirates.

City Football Group said no existing shareholders are selling equity.

Dow Jones Newswires