Manchester City's parent company sells 13 percent stake to Chinese investors

  • Manchester City's parent company has sold a 13 percent stake to a consortium of Chinese investors. With this City Football Group has been valued at $3bn. According to media reports, the 13 percent stake, which is worth £265m, was sold by CFG to China Media Capital and Citic Capital, an investment company. With this deal, CFG aims to expand its interest in the Chinese football industry.