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City Football Group, the owner of Manchester City, has sold a stake of just over 10% for $500m (£389.4m) to Silver Lake, an American private equity firm. The deal values the business at $4.8bn (£3.74bn), establishing it as one of the most valuable sports companies in the world.
It puts CFG’s value more than $1bn ahead of the $3.81bn worth attributed to Manchester United by Forbes in July. At that point City were valued at $2.69bn by Forbes and the Dallas Cowboys topped its list at $5bn. In September Forbes increased the Cowboys’ value to $5.5bn.
Written by Jamie Jackson
This news first appeared on https://www.theguardian.com/football/2019/nov/27/manchester-city-sell-10-per-cent-share-us-private-equity-firm-silver-lake under the title “Manchester City owner sells 10% share for £389m to US private equity firm”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
