The parent company of Premier League champions Manchester City, City Football Group (CFG), has concluded a major investment deal with US-based tech investment giants Silver Lake.
United States-based Silver Lake has signed a definitive agreement to make a £388m equity investment, equivalent to just over 10% of the company’s post-investment value. The deal values City Football Group at £3.72bn.
Silver Lake become the second major partner in the group. Around 12% of CFG equity remains held by a consortium of Chinese institutional investors led by media and entertainment conglomerate, CMC Inc.
Khaldoon Al Mubarak, 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.
“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.”
Khaldoon Al Mubarak has indicated that 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.
Earlier in November, Manchester City announced it had brought in a record £535.2m last season. It was City’s 11th successive year of revenue growth and closed the gap on local rivals Manchester United, the Premier League’s richest club.
CFG have stakes in seven clubs around the world including City’s men and women’s teams, New York City FC, Melbourne City FC, Yokohama F. Marinos, Club Atletico Torque, Girona and Sichuan Jiuniu.