PARIS - U.S. private equity firm Silver Lake has agreed to invest US$500 million in the owners of English football champions Manchester City, valuing the Premier League club's owner at US$4.8 billion.
Europe's top football clubs have drawn in big money from some of the world's richest investors over the last decade, as the game attracts more and more fans in lucrative markets such as Asia, the United States and the Middle East.City's big domestic rival Manchester United are owned by the American Glazer family, while Chelsea is owned by Russian billionaire Roman Abramovich. French champions Paris Saint-Germain are owned by Qatar Sports Investments.
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 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.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »