Manchester City’s ownership group, City Football Group, currently owns significant interests in football clubs in many countries around the world, including England, Japan, the United States, Uruguay, the Netherlands and China.
Under the leadership of Ferran Soriano, CEO of Manchester City, CFG has also made significant investments in academies, technical support and marketing companies around the world, aiming to increase engagement with football on and off the pitch.
In February, it was first reported that CFG was in informal talks with Salvador-based club Bahia regarding a potential takeover, although it was stated that there were no official talks between the two sides at that stage.
In early April, it emerged that Bahia’s president, Guilherme Bellintani, was in England to finalize the terms subject to the pending takeover, with CFG planning to make Campeonato Baiano one of the six biggest teams in Brazil. to make.
However, City Xtra understand that the agreement between City Football Group and Bahia is 100% complete and, now after presentation, will only depend on the approval of the Club Deliberative Council.
The acquisition will allow CFG’s brand to grow and develop in South America, while Bahia will no doubt benefit from the investments that will be made in the club on and off the pitch in the coming seasons – to enhance their status as one of the giants in Brazilian football.
It was recently reported that CFG will make the purchase of the club for a total cost of £104million in three phases – £8million once the deal is closed, an additional £24million payment at the end of the year and the other £72 million to be split between 2023 and 2024.
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Interestingly, it was previously mentioned that CFG plans to make Bahia the second largest club under their umbrella following the takeover – only after Manchester City – which speaks volumes about how the club could grow in the coming years.
Now that there is a full agreement between CFG and Bahia, it is worth noting that the Manchester City ownership group has reportedly contacted at least 10 other clubs in Brazil about a takeover ahead of their talks with the second-tier club.
Additional reporting included from City Xtra Portuguese†
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