Manchester City holding company City Football Group (CFG) have announced a £389million investment from American private equity firm Silver Lake.
The deal values CFG at £3.73billion and, according to The Financial Times, the deal was signed on Saturday, with Silver Lake managing partner Egon Durban then watching City's win over Chelsea at the Etihad stadium.
Silver Lake made its name investing in technology companies such as Skype and, according to the FT, previously approached other leading sides such as Chelsea.
Khaldoon Al Mubarak, chairman of CFG, who have a stake in seven clubs across the world, said: '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.
'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.'
ishti
890
From Oil WELL to Siiver LAKE, up next Gold SEA. 😎😎
DaMhztourage
139
Competition is rife now in Manchester , days after Utd announced a record sponsorship deal of £70m per annum , now City has come up with £389m investment from Silver Lake , an American private equity firm , City of Manchester is really experiencing money boom
Scarlxrd7
15
With this money city should buy valverde and make him the water boy