The City Football Group (CFG), the parent organisation to Manchester City, have sold a stake of just over 10% to US-based investment firm Silver Lake, making them the most valuable sports group in the world, according to reports.
Man City, the cornerstone in CFG's project, have been growing in stature in the last ten years, rapidly closing the gap on Europe's elite clubs. CFG, prior to the investment, had eight members, and has a stake in seven clubs across the globe, including MLS side
This deal will see CFG’s current owners, Abu Dhabi United Group and a Chinese consortium led by China Media Capital, reduce their stakes in the business from 87% and 13% respectively, to around 77% and 12%. Silver Lake will claim the rest.
“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.”
As for Silver Lake, managing partner and director Egon Durbon revealed the reasons behind their investment. He said: "
“We greatly respect CFG’s stewardship of more than a century of football tradition and the strong global fanbases of its clubs. 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.”
This comes following the Sky Blues' 1-1 draw at home to Shakhtar Donetsk, a result that booked their place in the knockout stages of the Champions League. Attention now turns back to the Premier League, where Pep Guardiola's men are currently nine points behind title rivals Liverpool.