Chinese Investors Snap Up Manchester City Stake

A consortium of Chinese institutional investors have paid $400 million for a 13 percent stake in the company that operates Manchester City, which was previously wholly owned by Sheikh Mansour bin Zayed Al Nahyan’s Abu Dhabi United Group (ADUG).

The deal, which will see new shares issued as well as the ones held by ADUG, values City Football Group (CFG) at $3 billion.

The consortium is led by China Media Capital (CMC) Holdings, and also includes CITIC Capital, China’s largest brokerage. In a statement, CFG said the capital from the share expansion would be used to fund its growth in China, as well as expanding its infrastructure and other international interests. CMC chairman Ruigang Li is taking a place on the CFG board, which will now expand to seven members.

Khaldoon Al Mubarak, the chairman of CFG said in the statement, “Football is the most loved, played and watched sport in the world and in China, the exponential growth pathway for the game is both unique and hugely exciting, we have therefore worked hard to find the right partners and to create the right deal structure to leverage the incredible potential that exists in China, both for CFG and for football at large.”

Sheikh Mansour, Deputy Prime Minister of the UAE and Minister of Presidential Affairs, bought Manchester City in 2008. After investing in a series of high-profile players, Manchester City has since won two Premiership titles, in 2012 and 2014. However the club has yet to break through to the latter stages of The Champions League Europe’s foremost tournament which is seen as a benchmark of success.

WEB'S BEST

Top stories from across the globe

  • The 5 Most Shocking News in 2016
  • Hazel Moore: Banks Are Completely Wasting Valuable Customer Data
  • Morgan Stanley CEO Makes First-Ever Stock Sales After Bank Rally
  • Former Goldman's Partner in Boutique Venture
  • Hong Kong and Singapore in Push for Fee Transparency
More

PHOTO GALLERIES

finews.asia Networking Event

finews.asia Networking Event

Show pictures

stars China Symposium 2016

stars China Symposium 2016

Show pictures

Compare my salary

Compare my salary

Feeling Underpaid? Benchmark your salary by job title, company and location. Find out where you stand in minutes.

compare my salary

Newsletter

Newsletter-SymbolFree Subscription

Subscribe to our free newsletter and receive daily email alerts from the finews editorial team with a list of the top featured articles.

Share with us

Do you have any market intelligence to share with finews.asia – email us on info@finews.asia – All communication is completely confidential and strictly anonymous.