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."

Start your day with The Independent, sign up for daily news emails
Have you tried new the Independent Digital Edition apps?
ebooks
ebooksAn introduction to the ground rules of British democracy
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Media

Recruitment Genius: B2B Media Sales Professional - Work From Home

£20000 - £50000 per annum: Recruitment Genius: Enjoying rapid growth we contin...

Recruitment Genius: B2B Media Sales Professional - Work From Home

£20000 - £50000 per annum: Recruitment Genius: Enjoying rapid growth we contin...

Recruitment Genius: B2B Media Sales Professional - Work From Home

£20000 - £50000 per annum: Recruitment Genius: Enjoying rapid growth we contin...

Recruitment Genius: B2B Media Sales Professional - Work From Home

£20000 - £50000 per annum: Recruitment Genius: Enjoying rapid growth we contin...

Day In a Page

Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate
Greece debt crisis: What happened to democracy when it’s a case of 'Vote Yes or else'?

'The economic collapse has happened. What is at risk now is democracy...'

If it doesn’t work in Europe, how is it supposed to work in India or the Middle East, asks Robert Fisk
The science of swearing: What lies behind the use of four-letter words?

The science of swearing

What lies behind the use of four-letter words?
The Real Stories of Migrant Britain: Clive fled from Zimbabwe - now it won't have him back

The Real Stories of Migrant Britain

Clive fled from Zimbabwe - now it won’t have him back
Africa on the menu: Three foodie friends want to popularise dishes from the continent

Africa on the menu

Three foodie friends want to popularise dishes from the hot new continent
Donna Karan is stepping down after 30 years - so who will fill the DKNY creator's boots?

Who will fill Donna Karan's boots?

The designer is stepping down as Chief Designer of DKNY after 30 years. Alexander Fury looks back at the career of 'America's Chanel'
10 best statement lightbulbs

10 best statement lightbulbs

Dare to bare with some out-of-the-ordinary illumination
Wimbledon 2015: Heather Watson - 'I had Serena's poster on my wall – now I'm playing her'

Heather Watson: 'I had Serena's poster on my wall – now I'm playing her'

Briton pumped up for dream meeting with world No 1
Wimbledon 2015: Nick Bollettieri - It's time for big John Isner to produce the goods to go with his thumping serve

Nick Bollettieri's Wimbledon Files

It's time for big John Isner to produce the goods to go with his thumping serve
Dustin Brown: Who is the tennis player who knocked Rafael Nadal out of Wimbeldon 2015?

Dustin Brown

Who is the German player that knocked Nadal out of Wimbeldon 2015?
Ashes 2015: Damien Martyn - 'England are fired up again, just like in 2005...'

Damien Martyn: 'England are fired up again, just like in 2005...'

Australian veteran of that Ashes series, believes the hosts' may become unstoppable if they win the first Test