Manchester City owner scores $4.8 billion price tag with stake sale - Reuters

Manchester City owner scores $4.8 billion price tag with stake sale - Reuters:

Manchester City’s Abu Dhabi-controlled owner has agreed to sell a $500 million stake to U.S. private equity firm Silver Lake, making it the world’s most valuable soccer group with a $4.8 billion price tag.

Tech-focused Silver Lake will buy just over 10% of City Football Group (CFG), which owns reigning English Premier League champions Manchester City and teams in the United States, Australia and China, the companies said on Wednesday.

The investment crowns a rags to riches story for Manchester City, which spent much of the 1990s in the doldrums but broke into the big league of world soccer with the help of Middle Eastern cash.