The rich get richer
Manchester City have announced fresh investment from US private equity firm Silver Lake, after they bought roughly a 10% stake for £389 million.
On the field, it’s been a less than ideal start to the season for Manchester City.
Pep Guardiola’s side have fallen well behind Liverpool in the title race, finding themselves nine points adrift from top spot.
In fact, Leicester City are even above them by one point, after their incredible start to the campaign.
With fixtures against Newcastle, Burnley and Manchester United coming up, Pep Guardiola and City cannot afford any slip-ups during the Christmas period.
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A further £389 million of investment
Off the pitch, though, things continue to grow at Manchester City.
That’s because the club have confirmed fresh investment this morning.
US private equity firm Silver Lake have purchased a £389 million stake in City Football Group (CFG), which roughly equates to 10%.
That deal sees CFG’s valuation rise to a whopping £3.73 billion.
For comparison, commercial powerhouse and rivals Manchester United’s market capitalisation is valued at £2.2 billion, according to the Mail.
Speaking about the investment, City Football Group chairman Khaldoon Al Mubarak was positive about the future of both companies working together.
“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 explained.
In a report by the Financial Times, it’s claimed that Silver Lake had approached Chelsea and other English clubs before Manchester City.
New CFG investors announced. Welcome to the family Silver Lake.
FULL STORY: https://t.co/n1Zy1JDNvc
— Manchester City (@ManCity) November 27, 2019