BSkyB buys soccer stake

Manchester City scores with $19.2 mil

NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million.

The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in teams and lock up media deals.

BSkyB recently purchased 9.9% of Leeds United for $22 million. It also holds a stake in Manchester United, although government regulators blocked its attempt to take over that team outright for $1 billion.

BSkyB, 40% owned by News Corp., is currently involved in a battle for top English soccer rights.

Friday’s agreement will provide Manchester City with a cash infusion that will ease its debt load and may be part of a larger financing package that includes a rights offering.

More Biz

  • The Matcha Bros

    Ansel Elgort, Diplo, Billie Eilish, and Von Miller Invest in MatchaBar Energy Drink

    NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million. The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in […]

  • Ron Burkle

    Ron Burkle Sues Lantern Capital Over Weinstein Co. Costs

    NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million. The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in […]

  • Netflix Reed Hastings

    Netflix Falls Short of Q2 Subscriber Expectations Worldwide, Stock Dives

    NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million. The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in […]

  • Johnny Depp

    Johnny Depp Settles Feud With Former Managers

    NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million. The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in […]

  • Ed Sheeran Shape of You

    Ed Sheeran Tops Pollstar’s Mid-Year Touring Charts as Industry Soars to Record Gross

    NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million. The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in […]

  • Lantern Capitol

    Weinstein Co. Closes $289 Million Sale to Lantern Capital

    NEW YORK — News Corp.’s BSkyB has agreed to buy a 9.9% stake in English first-division soccer team Manchester City for about $19.2 million. The satcaster will apparently pony up another $3.2 million to have its Sky Sports Ventures appointed exclusive media agent for the club, part of BSkyB’s push to take equity stakes in […]

More From Our Brands

Access exclusive content