Rio de Janeiro, May 5: City Football Group, the Abu Dhabi-based parent company of Manchester City, has secured a controlling stake in Brazil s Bahia as it continues its global expansion.
City Football Group have added a 13th club to their collection having bought Braziian top-flight side Esporte Clube Bahia. Manchester City's owners forked out £158m for 90 oer cent of.
Manchester City’s owners City Football Group have completed their acquisition of Esporte Clube Bahia, a Brazilian top-flight side located in the country’s northeastern region.
Bahia are the 13th club to join the international conglomerate which includes clubs such as New York City FC, Melbourne City FC, and, most recently, Palermo.
The deal for 90 per cent of Bahia’s shares is valued at R$1billion, which equates to £158million on current exchange rates. Bahia represents CFG’s second largest investment into buying a football club, after Premier League champions Manchester.