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.
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.
New York City FC have finalized another new-but-not-new signing, officially announcing Santiago Rodríguez has rejoined the club on a Designated Player contract. According