Sky gets the Blues
Friday 05 November 1999
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."
-
That's some guestlist! Stunning images show huge dynastic wedding between Ultra-Orthodox Jewish families which attracted 25,000 guests
-
'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
-
German chancellor Angela Merkel named most powerful woman in the world by Forbes - again
-
World news in pictures
-
Eyewitness gives extraordinary account of her confrontation with Woolwich attackers
- 1 'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
- 2 Mothers' diets may harm IQs in two-thirds of babies
- 3 Far-right French historian, 78-year-old Dominique Venner, commits suicide in Notre Dame in protest against gay marriage
- 4 Eyewitness gives extraordinary account of her confrontation with Woolwich attackers
- 5 Woolwich attack: The EDL might have a sinister plan as a soldier is murdered in suspected Islamic terrorist attack
Get your summer started with British Military Fitness
BMF is the UK’s biggest and best loved outdoor fitness classes
Visit York
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Enter the latest Independent competitions
Win anything from gadgets to five-star holidays on our competitions and offers page.
Business videos from commercial thought leaders
Watch the best in the business world give their insights into the world of business.
Day In a Page
Edward VIII’s phone calls - and how MI5 bugged them
Hollywood's random acts of red-carpet kindness
Not secure any more: G4S boss heads for exit at last
How to say ‘I’m a sellout’






Comments