An investment fund group called Silver Lake has bought a little over 10% of the City Football Group (CFG), which owns Manchester City, for 500 million dollars (454 million euros).
CFG also owns Manchester City, New York City, Melbourne City, Yokohama Marinos, Club Atlético Torque, Girona and Sichuan Jiuniu.
As announced by City in a statement, this capital investment values CFG at $4.8 billion (€4.362 billion). Manchester City thus becomes, by extension, the most valuable club in the world.
The funds from this investment will be used by CFG to "finance international growth opportunities and to develop technology and infrastructure assets".
As the daily 'AS' points out, one of the planned investments could be the purchase of Mumbai City in the Indian Super League. It's the first time Silver Lake invests in the world of football, but they have extensive experience in the field of entertainment, especially in the UFC.
According to the same source, no current CFG shareholder is selling shares in this capital investment and Abu Dhabi United Group, Sheikh Mansour bin Zayed's company, remains the majority shareholder with 77% of the shares.
What this investment does mean is that CFG's board of directors increases from eight to nine members. Egon Durban, CEO of Silver Lake, is the new board member.