Reuters, PARISUS private equity firm Silver Lake Management LLC has agreed to invest US$500 million in the owners of English soccer champions Manchester City, valuing the Premier League club’s owner at US$4.8 billion. Silver Lake would buy just more than 10 percent of Abu Dhabi-controlled City Football Group (CFG), which owns Manchester City, the companies said yesterday, confirming a report in the Financial Times newspaper. Manchester City’s big domestic rivals Manchester United are owned by the American Glazer family, while Chelsea are owned by Russian billionaire Roman Abramovich. Manchester City this month reported record high 2018-2019 revenue of ￡535.2 million (US$689.2 million) in a fifth consecutive year of profitability. However, unlike Manchester United and Liverpool, Manchester City is yet to win Europe’s most prestigious title, the UEFA Champions League.

Source: Taipei Times November 27, 2019 15:56 UTC