US private equity giant Silver Lake is investing $500 million in the owner of Manchester City, a record deal that values the soccer group at nearly $5 billion
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.
European football's governing body, has been investigating the club for possible breaches of its Financial Fair Play regulations, which are supposed to stop clubs from getting into unmanageable debt or allowing wealthy benefactors to give top teams an unfair advantage.Manchester City has denied wrongdoing, but it could be banned from the prestigious Champions League for a year if soccer authorities rule against the club.
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