Sky gets the Blues

Rupert Murdoch's BSkyB empire has bought a 9.9% stake in Manchester City.

Rupert Murdoch's BSkyB empire has bought a 9.9% stake in Manchester City.

The First Division leaders can expect to make around £12million from the deal, which also includes BSkyB paying £2million for global rights to become the club's exclusive media partners.

BSkyB will have a representative on City's board, and further money will be raised from a new rights issue to existing shareholders.

In the deal, director John Wardle will become deputy chairman.

Wardle and JD sports company partner David Mackin will convert £4.8million of loans they have in the club into shares.

BSkyB also have a 9.9% stake in Leeds United.

City chairman David Bernstein said: "We have broken historic ground today and I'm sure it will delight our fans.

"We have massive support and BSkyB have recognised that. This investment puts us in an elite category of clubs and is in recognition of our great potential."

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