A US private equity firm has invested further in Manchester City’s parent company.
Silver Lake has strengthened its position as the second-largest shareholder in City Football Group and now holds a 18.16% stake.
As a result of the deal, China Media Capital (CMC) has slashed its holdings to almost nothing.
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Sheikh Mansour bin Zayed Al Nahyan, who has owned Manchester City since 2008, also increased his stake as the controlling shareholder in the parent group through Abu Dhabi-based Newton Investment and Development, the FT reported.
The confirmation of the deals come after a businessman known as 'China's Rupert Murdoch' stepped down as a director of Manchester City's owner.
CMC Holdings, of which Li Ruigang is chairman, first invested in City Football Group in a $400m deal with CITIC Capital for a stake of just over 13%.
At the time, the deal valued the group at $3bn and saw Ruigang Li take a seat on the board.
City Football Group's clubs also include New York City, Melbourne City, Yokohama F. Marinos, Montevideo City Torque, Girona FC, Sichuan Jiuniu, Mumbai City FC, Lommel SK, Esperance Sport Troyes Aube Champagne and partner club Club Bolivar.
It is also a joint venture partner in the £365m Co-op Live arena that's being constructed near Manchester City's stadium.
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