Chinese investors have taken a 13% stake in the the group who own Manchester City, putting the value of the parent company at a staggering £3bn.
The $400m (£265m) investment by private equity fund China Media Capital (CMC) Holdings and CITIC Capital follows six months of negotiations.
The capital from the share acquisition will be used by City Football Group to fund its China growth and business expansion, it said today.
Sheikh Mansour paid around $400m for Man City in 2009.
City Football Group owns Manchester City FC, New York City FC, Melbourne City FC, and is a minority shareholder in Japanese side Yokohama F. Marinos.
The deal will see new shares issued in City Football Group.
Prior to the deal Sheikh Mansour’s Abu Dhabi United Group were the sole shareholders of City Football Group.
The Chairman of CMC Mr Ruigang Li will also join the board of the City Football Group Holding Company.
Khaldoon Al Mubarak, Chairman of City Football Group said: “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.”
He continued: “Our partners have an incredible track record of creating value and could not be better placed to help us further evolve City Football Group. Our belief is that we now have an unrivalled platform to grow CFG, our clubs and companies both in China and internationally and we will be working hard with our new partners to realise the potential that this deal creates.”
On behalf of the investing consortium, CMC Chairman Ruigang Li said: “Football is now at a fascinating and critical stage of development in China. We see unprecedented growth opportunities in both its development as an industry, being China’s most watched sport, and its inspirational role bringing people of all ages together with a shared passion.
“We and our consortium partner CITIC Capital also see this investment as a prime opportunity for furthering the contribution of China to the global football family.”
Sir Richard Leese, Leader of Manchester City Council, said: “Abu Dhabi United Group’s ownership of Manchester City has been a huge success. With the formation of the City Football Group, Manchester is now the headquarters for a transformational global football organisation and one with an unrivalled commitment to our community and to the city.
“The new partnership and minority shareholding announced today with a consortium of Chinese Institutional Investors creates not only a platform for further growth for City Football Group, but also new opportunities for further widening and deepening the international investment base in Manchester.”
