US firm takes big bite of the British soccer pie
The US private equity firm is buying just over 10% of City Football Group
Silver Lake's expensive foray into British soccer reflects the soaring value of live matches and a bet that Manchester City's hundreds of millions of fans represent a big revenue opportunity.
The US private equity firm is buying just over 10% of City Football Group for about $500m (about R7bn), the companies said Wednesday, valuing the club's owner at $4.8bn. That's one of the highest price tags yet for a professional sports group.