The parent company of Manchester City have announced a £389m investment from US based private equity firm Silver Lake. The firm are reported to be purchasing around 10% of City Football Group’s worldwide business upping the value of the holding company to £3.73bn ($4.8bn) according to the BBC.
Here’s how the City faithful reacted to the announcement via social media.
Good news yet again
The blue moon keeps shinning brighterWe’ve got the best chairman in football
Well done Khaldoon— Oyedijo Toye INTEGRITY (@toyeseINTEGRITY) November 27, 2019
???
— ??Phumi?? (@PhomelloMCFC) November 27, 2019
OMDSSSS KHALDOON MONSTERCLASS
— Harry (@RunReissRun) November 27, 2019
welcome to the champions
— yassein mpwimbwi?? (@yassin27779933) November 27, 2019
— Dazzla (@dazza_nics) November 27, 2019
?| A £389million investment (10% of CFG) from American private equity firm Silver Lake in City Football Group means CFG is now valued at £3.73 billion.
$5,000,000,000
We are MASSIVE! ? pic.twitter.com/3rVzA8aex5
— City Chief (@City_Chief) November 27, 2019
What do we think?
CFG hold stakes in seven football clubs across the globe including in Australia, Japan, China and the United States. Contrary to what rival fans will say this deal is completely legal and is another display of the exemplary business acumen which has seen the club rise to the very top of world football.
A rich and glorious history takes time to build but City are taking all the right steps and it won’t be long before that follows.
Can Man City overtake United as the UK's richest club?
Yes
No
It’s a business move that stands the club in good stead for future growth. In November, City announced they had brought in a record £535m last season – that meant an 11th successive year of revenue growth and that is projected to rise again next season now the club have made it to the knockout stages of the Champions League.