The City Group are planning to extend their global football activities and add another club to their portfolio. This time, the corporation have their sights set on Brazil, namely on a traditional club there.
In recent weeks, representatives visited the nation to explore the acquisition of SAF and to improve ties with the government. As a result, there’s a lot riding on a good finish, which may put the squad back in contention for national and world championships.
City Group can take over Bahia’s SAF
Bahia is the team in question, and it might be the next to reach an agreement with its Sociedade Anônima do Futebol (SAF). Despite being in Serie B, Tricolor have enjoyed a successful season and are regarded as one of the best teams in our sport.
Following Cruzeiro, Botafogo, and Vasco da Gama, Bahia might be the fourth club to sell their SAF after Cruzeiro, Botafogo, and Vasco da Gama. Bragantino is a company-club in Serie A, although the agreement with Red Bull predates the inception of the current model.
Negotiations are ongoing
Negotiations between Bahia and City have progressed in recent months, although there have been little developments lately. Guilherme Bellintani, the president of the Brazilian side, said that conversations are going place, but said he preferred not to establish timelines.
The club is making an attempt to finalize the transaction, and many individuals are participating. Other phases, on the other hand, must be accomplished. If the proposal is approved, the transition into SAF must be approved by the Deliberative Council and the Extraordinary General Assembly (AGE).
“It’s a long-term, everlasting choice for the club that will scarcely be reversed, so it has to be thoroughly thought through, which we are doing,” the president stated.
Main points of the City Group proposal
Despite not being official, the City Group’s bid for 90% of Bahia’s SAF is roughly R$ 650 million. It’s a higher price than Cruzeiro paid for Ronaldo Fenômeno’s SAF, for example.
The money would be invested as follows: BRL 50 million at contract signing, BRL 150 million at the end of the year if Series A access is confirmed, and the remaining BRL 450 million split evenly between 2023 and 2024.
This money would only be used to acquire SAF. That is, funds spent on the acquisition of players, for example, are divided and the managers are responsible for them. Another significant distinction is Bahia’s visual identity.
There will be no name or colour changes, unlike the other teams in the group. There’s a chance that a sky blue jersey may be issued, but just as a backup. Troyes (France) and Girona (Spain) are two more cities that have preserved their marks.
If the deal is really signed, Grupo City will be in charge of Bahia’s football team.
City negotiated other investments in Brazil
City Group’s first effort into Brazilian football would be with SAF of Bahia. The Arab fund’s interest, on the other hand, is rather ancient. Prior to negotiations with Tricolor, the businessmen kept an eye on other teams.
The first was Londrina, where investors met with the Paraná club’s directors. The next year, Atlético-MG became the talk of the town, with a R$ 1 billion bid for the club. However, since there was no evolution, Bahia should be the one picked.
About the City Group
The City Football Group is a holding organization that oversees the management of football teams all around the globe. Abu Dhabi United Group (78%) owns the company, followed by Silver Lake (12%), China Media Capital, and CITIC Capital (12%). (10 percent).
The name is derived from the organization’s most illustrious achievement, Manchester City. The English have recently won the national championship and have established themselves as one of Europe’s top clubs. The CFG, on the other hand, has assets on various continents.
City, unlike other organizations, have a lot of sports success in their investments, which is a huge distinction. Only two teams have never won a trophy: Lommel (Belgium) and Sichuan Jiuniu (China). There are 42 championships in eight nations (China).
As a result, it’s natural that Bahia supporters are ecstatic at the prospect of a contract that might see them return to the top of Brazilian football in the coming years.