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. Man City's big domestic rival Manchester United are majority owned by the American Glazer family and are valued at $2.8bn. CFG, which also owns or part owns New York City FC, Melbourne City FC, Yokohama F. Marinos in Japan, Club Atletico Torque in Uruguay, Girona FC in Spain and Sichuan Jiuniu FC in China, said none of its shareholders were selling stakes. Silver Lake owns stakes in entertainment and sport talent agencies group Endeavor and global sports agency IMG. Aside from Man City, CFG's most notable investment was to create New York City FC, a Major League Soccer franchise which plays at Yankee Stadium, home of the New York Yankees baseball team.

Source: Dhaka Tribune November 27, 2019 15:33 UTC