PARIS: US private equity firm Silver Lake has agreed to invest US$500 million in the owners of English soccer champions Manchester City, valuing the Premier League club's owner at US$4.8 billion.
"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," City Football Group Chairman Khaldoon Al Mubarak said in a statement.City Football Group said none of its existing shareholders were selling equity stakes as part of the Silver Lake deal.
Man City this month reported record high 2018-19 revenue of 535.2 million pounds in a fifth consecutive year of profitability."We are excited to invest in CFG, which is redefining soccer globally and in doing so has successfully built an impressive global platform of marquee soccer clubs across five continents," Durban said in a statement.
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