A major American investor has put £ 389 million into the purchase of a ten percent stake in the City Football Group.

Silver Lake, a technology investment company, has made the purchase. This means Manchester City's parent company now has a value of £ 3.73bn, meaning that it has outstripped Manchester United's global value, which currently stands at $ 3.8bn.

Sheikh Mansour remains with 77 percent of the majority shareholder of the club, while a Chinese consortium has 13 percent.

The money will be used to fund "international growth opportunities" and to develop the Group's technology and infrastructure – which includes New York City, Melbourne City, Girona, Yokohama F. Marinos, Atletico Torque and Sichuan Jiuniu.

City Group Chairman Khaldoon Al Mubarak said of the investment: "Silver Lake is a world-leading technology investor. We welcome both the confirmation of their investment in CFG and the opportunities for further growth that their partnership offers.

"We and Silver Lake share a strong belief in the opportunities that arise from the convergence of entertainment, sports and technology, and the resulting ability of CFG to generate long term growth and new revenue streams worldwide."

Egon Durban, Managing Director of Silver Lake, said, "We are pleased to invest in CFG, which has redefined football around the world, building an impressive global platform of marquee football clubs on five continents.

"We respect the responsibility of the CFG for more than a century of football tradition and the strong global fan base of their clubs.

"We look forward to working with CFG's board and senior management team to drive CFG's next phase of growth in the fast-growing premium sports and entertainment content market."