Abu Dhabi-based Man City owner draws $500m investment from private equity firm Silver Lake

Abu Dhabi-based Man City owner draws $500m investment from private equity firm Silver Lake
Manchester City this month reported record high 2018-19 revenue of £535.2 million ($687 million) in a fifth consecutive year of profitability. (Reuters)
Updated 27 November 2019

Abu Dhabi-based Man City owner draws $500m investment from private equity firm Silver Lake

Abu Dhabi-based Man City owner draws $500m investment from private equity firm Silver Lake
  • Europe’s top football clubs have drawn in big money from some of the world’s richest investors over the last decade
  • Man City this month reported record high 2018-2019 revenue of £535.2 million in a fifth consecutive year of profitability

PARIS: US private equity firm Silver Lake has agreed to invest $500 million in the owners of English football champions Manchester City, valuing the Premier League club’s owner at $4.8 billion.
Silver Lake will buy just over 10 percent of Abu Dhabi-controlled City Football Group (CFG), which owns Manchester City, the companies said on Wednesday, confirming a report in the Financial Times newspaper.
Europe’s top football clubs have drawn in big money from some of the world’s richest investors over the last decade, as the game attracts more and more fans in lucrative markets such as Asia, the United States and the Middle East.
The clubs’ property portfolios are also often seen as lucrative assets.
Man City’s big domestic rival Manchester United are owned by the American Glazer family, while Chelsea is owned by Russian billionaire Roman Abramovich. French champions Paris Saint Germain are owned by Qatar Sports Investments.
“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 opportunities for further growth that their partnership brings,” City Football Group Chairman Khaldoon Al-Mubarak said in a statement.
City Football Group said none of its existing shareholders were selling equity stakes as part of the Silver Lake deal.
It added that Abu Dhabi United Group, the investment vehicle owned by Sheikh Mansour bin Zayed Al Nahyan, would remain the majority CFG shareholder with a stake of around 77 percent.
Man City this month reported record high 2018-19 revenue of £535.2 million ($687 million) in a fifth consecutive year of profitability.
Silver Lake Managing Director Egon Durban will join the board of City Football Group.
“We are excited to invest in CFG, which is redefining football globally and in doing so has successfully built an impressive global platform of marquee football clubs across five continents,” Durban said in a statement.
Manchester City spent much of the 1990s in the doldrums, often out of England’s top-flight league and far behind Manchester United, which remains England’s record league title holders with 20 championship titles.
However, the influx of Middle Eastern cash has since led to a revival in Man City’s fortunes.
The team, managed by former Barcelona man Pep Guardiola, won an unprecedented domestic treble last season — the Premier League title, the FA Cup and the League Cup.
Unlike Manchester United and Liverpool, however, Man City is yet to win Europe’s most prestigious title, the Champions League.


Adailton fires Tokyo into Asian Champions League last 16

Updated 04 December 2020

Adailton fires Tokyo into Asian Champions League last 16

Adailton fires Tokyo into Asian Champions League last 16

DOHA, Qatar: Brazilian midfielder Adailton scored a brilliant solo goal in the first half as FC Tokyo edged past Perth Glory 1-0 to seal the second round-of-16 spot from Group F in the Asian Champions League on Thursday.

South Korean giants Ulsan Hyundai had already made the cut as guaranteed group winners, leaving FC Tokyo and Shanghai Shenhua scrapping for second place with both teams on seven points from five matches.

But Shanghai Shenhua fell to a crushing 4-1 defeat by Ulsan on Thursday to exit the tournament, while FC Tokyo’s narrow win over Perth Glory helped them maintain their record of qualifying for the knockout phase every year since their continental debut in 2012.

Adailton was in the thick of the action in the very first minute at the Education City Stadium when he went for a spectacular bicycle kick off a cross from Takuya Uchida only to see the ball sail over the goalpost.

But he compensated for that miss in style seven minutes later with a brilliant 30-yard burst down the left flank, scoring with a curling shot past Perth goalkeeper Liam Reddy.

Two minutes later, Adailton found himself in a great position to strike again but his powerful effort from outside the penalty area saw Reddy producing a fine save.

Perth Glory took control of the match in the second half but could not get past the Tokyo defence, ending up at the bottom of the table with just one point from six matches.

FC Tokyo coach Kente Hasegawa said he always had confidence in his team’s abilities.

“Today we are very happy about qualifying for the next round. Some players who didn’t play much before played today and Adailton scored a very good goal,” said Hasegawa.

“We tried to score more goals in the second half but also we knew the result of the other game (Ulsan were leading 2-0 against Shenhua at half time), so we were more comfortable.”

Perth Glory’s Cristian Ola said fatigue was a big factor for his team’s poor show.

“Not happy with the result but happy with our boys’ efforts and display considering it was their fifth game in a short space of time which is not something we are used to,” said Ola.

“Fatigue was our biggest opponent today but congratulations to FC Tokyo.”

Shanghai Shenhua’s defeat by Ulsan Hyundai meant they failed to make the last 16 for the first time since 2006.

Having booked their knockout berth earlier, Ulsan made several changes to their lineup but Park Jeong-in and Lee Sang-heon put them 2-0 ahead at the break.

Bjorn Johnsen then added a second-half brace as the Koreans recorded their fifth straight win.

“After we qualified for the round of 16, I expected a few players might lose concentration but all the players concentrated and played well,” said Ulsan coach Kim Do-hoon.

“We had a lot of young players and they did their job. I asked them to play aggressively with combination play and high press, and they did it all very well.”

Shanghai Shenhua’s Choi Kang-hee said the Covid-19 pandemic meant they faced a number of difficulties in playing the competition.

“We understand it’s a pandemic. It’s a special time, and we have to play in this kind of way, but we hope in the future the tournament won’t be played with such a tight fixture list.”