Manchester City’s parent company of Premier League Champions revealed the US private equity firm Silver Lake’s £ 389 m investment.
The transaction breaks records in worldwide sports ratings, with the City Football Group (CFG) holding company worth £ 3.73 billion.
About 10% of CFG’s worldwide company is purchased by the US private equity firm.
The city is currently 3rd in the Premier League and last 16 in the Champions League.
CFG is participating in 7 soccer clubs worldwide, including in the United States, Australia, Japan, and China.
“We and Silver Lake share a strong conviction that the convergence of entertainment, sports and technology will provide opportunities for CFG to generate long term economic growth and new revenue streams worldwide,” said Khaldoon Al Mubarak, Group Chairman.
As part of the agreement initially reported in the FT, Egon Durban, Silver Lake’s managing director, will represent the US backers on the board of the CFG.
Silver Lake, best known for his technical development, added: “The investment in technology would lead to the next step of CFG’s growth in the highly growing premium sports and entertainment content industries.
As part of the initial agreement stated in the FT, the CFG’s US funding bosses will be led by Egon Durban, Managing Director of Silver Lake.
It was the 11th consecutive years of sales growth in City and shut the door on the richest Premier League club in local rivals Manchester United.
Next year, as Man City is qualified to take the Champions League stage, the figure is expected to rise again.
Payments from a Puma kit deal worth £ 45 m a year will also be introduced.
The Champions League club is in danger of being suspended and is now being judged by Uefa Adjudicatory committee.