Renowned tech investor has turned its sights on sport and is now second-largest shareholder in City Football Group
US private equity group Silver Lake has increased its stake in the parent company of Manchester City Football Club, making it the second-largest shareholder in the business behind its Abu Dhabi owners.
The Silicon Valley-based firm acquired a 4.1 per cent share in City Football Group from China Media Capital, taking its total holding to 14.5 per cent.
CFG is now one of the biggest sport club owners in the industry, with investments in football clubs ranging from Australia and Japan to Uruguay and the US. Silver Lake bought its original 10 per cent stake in CFG for $500mn in 2019, valuing the business at $4.8bn.
Read more: FT
