£100m amid the scandal! Sheikh Mansour pours fresh cash into Manchester City's empire
The legal storm around Manchester City has not stopped Sheikh Mansour from making another nine-figure investment.
Details: According to City AM, citing Companies House filings, Sheikh Mansour has invested a further £100 million into City Football Group. A total of 11,327,163 new CFG shares were allotted on October 14, with the investment made through his Newton Investment and Development company.
The transaction came shortly after an independent Premier League commission found Manchester City guilty of serious breaches of the competition's financial rules. The club has already lodged an appeal and insists the ruling contains material errors of law, principle and fact.
A City Football Group spokesperson described the money as equity from its largest shareholder and said the proceeds would be used for normal corporate purposes and planned investments across the group.
It is worth noting that the latest share issue increased Sheikh Mansour's majority holding in City Football Group to around 81%. The transaction implied a valuation of approximately £5.9 billion for the multi-club organisation.
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Steven Perez
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