City Football Group: investing in innovation through Sapphire Sport (venture capital fund)

City Football Group (CFG), a holding company for investments in football assets (professional clubs, eSports, infrastructure), is investing in innovation through Sapphire Sport, a $115m (€100m on 30/01/2019) venture capital fund dedicated to sport, according to the group and owner of Manchester City FC (Premier League), on 28/01/2019.

"The new fund sees CFG invest as a lead partner in the fund, which comprises owners and investors from across major US sports leagues; NFL, MLB, NBA, NHL and MLS as well as from related industries," said City Football Group. The equipment manufacturer adidas, Bank of Montreal and SAP are also investors in Sapphire Sport.

"Today's announcement follows a track-record of innovation and strategic, sustainable investment from CFG. That approach complements its original global, multi-club model, as Sapphire Sport sits alongside other football-related businesses and investments, including recreational facilities (a joint venture with GOALS Soccer Centres in North America), media ventures (Dugout), eSports, football schools and recreational coaching and…