Man City stake sale values soccer club at $4.8 bln

Credit: Reuters Studio
Published on November 27, 2019 - Duration: 01:01s

Man City stake sale values soccer club at $4.8 bln

U.S. private equity firm Silver Lake is buying a stake of just over ten percent in Manchester City for $500 mln, valuing the English club at $4.8 bln.

Julian Satterthwaite reports.

Man City stake sale values soccer club at $4.8 bln

Manchester City is officially the world's most valuable soccer group.

The English side's Abu Dhabi-controlled owner is selling a 500 million dollar stake to U.S. private equity firm Silver Lake.

That values the group at 4.8 billion dollars.

It also includes teams in the U.S., Australia, China and elsewhere, but Manchester City itself is the jewel in the crown.

The investment caps its rags to riches story.

Manchester City spent decades in the shadow of local rival

Class="kln">Manchester United.

But Middle Eastern cash has turned it into a football superpower.

The club is the reigning English Premier League champion.

This month it reported a record high annual revenue of 687 million dollars, and marked a fifth straight year of profitability.

Silver Lake says its investment will help drive the next phase of growth in the 'premium sports and entertainment content market'.

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