Manchester City deal a milestone in PE sport foray
Private equity firm Silver Lake acquired a 10% stake in City Football Group (CFG), the holding company that owns Manchester City FC, for $500m on Wednesday. The deal has been greeted as a watershed in the way football clubs are financed and is tipped to spark copycat deals.
GlobalCapital understands from a source with knowledge of the transaction that Silver Lake initiated the deal with CFG.But it is not the first instance of private equity involvement in sport. CVC is an investor in England's Premiership Rugby. It has made investments in Formula One in the past, ...
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