United States

Manchester City's owner is worth nearly $5 billion after Silver Lake deal

London (CNN Business)US private equity giant Silver Lake is investing $500 million in the owner of Manchester City, a deal that values the soccer group at nearly $5 billion and signals a concerted move by the veteran tech investors into sports.Under the agreement announced Wednesday, Silver Lake will buy just over 10% of City Football Group, which is controlled by United Arab Emirates royal Sheikh Mansour bin Zayed Al Nahyan. In addition to the English Premier League champions Manchester City, the soccer group owns teams in the United States, Australia, China, Japan, Spain and Uruguay. "Silver Lake is a global leader in technology investing, and we are delighted by both the validation that their investment in CFG represents, and the opportu ...