For other inquiries, Contact Us. THE huge UEFA cloud hovering over Manchester City has a £369 million Silver lining.
That move will value the soccer club's owner at $4.8 billion. Mourinho’s changes spark Spurs comeback to seal last 16, Why Man City have never had a better chance to win the Champions League. 3-30-20 City Council Extends Local State of Emergency. The owner of English Premier League champions Manchester City is selling a $500 million stake to private equity firm Silver Lake. KPMG valued Manchester City at $2.8 billion in May, though that estimate didn’t include City Football’s other teams, such as New York City FC and Melbourne City FC. Results are in: Best credit cards of 2020, Pay 0% interest until 2022 with a better card, Don't Ignore These Offers if you have Excellent Credit. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. “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,” CFG Chairman Khaldoon Al Mubarak said. Silver Lake now owns over a 10 per cent stake in the firm, just behind a 12 per cent stake held by a group of Chinese institutional investors led by media giant CMC. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved.
The club won an unprecedented domestic treble last season. Our journalists strive for accuracy but on occasion we make mistakes. Silver Lake is best known for tech investments such as Dell Technologies Inc. and China’s Alibaba Group Holding Ltd., and could bring that expertise to the English Premier League club. The investment in Manchester City vaults Silver Lake into a new league when it comes to sports. England's top soccer clubs have attracted huge international fan bases and owners with extremely deep pockets. That is estimated to be around £160 million if the two year ban which was handed down on Friday is upheld. The English Premier League champions drew in record revenue of 535.2 million pounds ($686.66 million) in a fifth consecutive year of profitability in 2018-19, marking their 11th straight year of revenue growth under the ownership of the Abu Dhabi royal family. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. Got a confidential news tip? The firm is also well versed in sports through its stake in Madison Square Garden Co., the owner of New York’s Knicks and Rangers. It is relatively rare for private equity firms to buy into soccer because they want a relatively quick return and while clubs make their money from lucrative broadcasting rights, their fortunes still depend on their success on the field.