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Silver Lake Increases Stake in Manchester City Owner

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Author: Abigail Gentrup

Silver Lake is now the second largest shareholder in Manchester City FC owner City Football Group.

The private equity firm increased its existing stake by purchasing a roughly 4.1% share from CMC Football Holdings. Filings show it was acquired between early 2020 and January 2022.

  • Silver Lake, which bought its initial 10% stake for $500 million in 2019, now owns 14.54% of the company.
  • CMC’s holding dropped to 8.24%.

City Football Group has full or partial stakes in 12 soccer clubs including New York City FC, Melbourne FC, and Manchester City — the sixth highest-valued soccer team in the world with a $4.25 billion valuation. Man City reported record revenue of $648.5 million for the 2020-21 season.

Silver Lake’s Stakes

Last month, Silver Lake purchased Diamond Baseball Holdings from Endeavor for $280 million. Formed last year, DBH includes 10 minor league baseball teams including affiliates of the St. Louis Cardinals, Chicago Cubs, and New York Yankees.

Last year, Silver Lake acquired a 33.3% stake in the Australian Professional Leagues for roughly $100 million, and as of this year, is set to acquire a stake in NZR CommercialCo, a division of New Zealand Rugby that houses all revenue-generating assets of the governing body.

The post Silver Lake Increases Stake in Manchester City Owner appeared first on Front Office Sports.

Go to Source
Author: Abigail Gentrup