City Football Group offers 190 million dollars for the Brazilian football club Bahia

By: News Team

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City Football Group (CFG), owner of English Premier League soccer team Manchester City, has made a 1 billion reais ($190 million) bid for 90% of the club. Brazilian Esporte Clube Bahia, the CFG reported on Friday.

The purchase is part of a boom in the injection of funds into Brazilian soccer, following the approval of a law that allows clubs to seek external investment.

Other professional clubs in the soccer-loving country have been bought in recent months, including Belo Horizonte’s Cruzeiro, where former Real Madrid and Brazil striker Ronaldo acquired a controlling stake, and Rio de Janeiro’s Botafogo.

The offer for Esporte Clube Bahia, which plays in the city of Salvador, still needs to be approved by the club’s members. The offer is well above the 650 million reais quoted by club president Guilherme Bellintani to local media earlier this year, when talks with CFG were first announced.

The CFG is majority owned by Sheikh Mansour bin Zayed Al Nahyan of Abu Dhabi. His offer for Bahía includes an option to purchase an additional 5% of the club.

If the offer is accepted, Esporte Clube Bahia, which plays in the second division of the Brazilian professional league, would become the 13th club acquired by CFG.

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