Manchester City FC owner raises $650m debt deal
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City Football Group, owner of reigning English Premier League Champions Manchester City, has reportedly raised $650m to fund infrastructure projects.
The debt deal will seek to boost investment in its international network of football clubs, according to a recent report in the Financial Times.
CFG is owned by Manchester City’s owner Abu Dhabi United Group, with significant stakes held by American and Chinese shareholders.
It has stakes in New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Girona, Sichuan Jiuniu and Mumbai City – playing in the US, South America, Japan, Australia, Europe and China.
Reports suggest the funding, one of the largest debt deals, will support infrastructure projects such as a new stadium for its Major League Soccer franchise New York City FC.
It said the seven-year loan was underwritten by Barclays, with HSBC and KKR Capital Markets helping arrange and distribute the debt, according to people familiar with the deal.
Separately, CFG has also organised a revolving credit facility worth £100m with the same finance providers.