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Saturday, June 22, 2024

Manchester City Owner Close to Takeover Deal for Brazilian Club

  • City Football Group has full or partial stakes in 13 soccer clubs including MLS’ New York City FC.
  • Its deal for Esporte Club Bahia is expected to be finalized in early 2023.
Players from Brazilian team Esporte Club Bahia salute fans after game
EC Bahia

City Football Group is one step closer to adding another soccer club to its portfolio.

The Manchester City owner is set to acquire Brazilian club Esporte Club Bahia in a deal reportedly valued at $133.7 million. The pact for a 90% stake in the club was approved by Bahia’s members at their general assembly with 98.6% in favor. 

  • Bahia was recently promoted to Campeonato Brasileiro Série A — Brazil’s top league.
  • CFG has full or partial stakes in 13 soccer clubs including MLS’ New York City FC and Australia’s Melbourne City FC.
  • The Bahia deal is expected to be finalized in early 2023. 

Silver Lake increased its existing stake in CFG, making the private equity firm its second-largest shareholder. Silver Lake bought an initial 10% stake for $500 million in 2019 and now owns 14.5% of the company.

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A law passed last year allowing clubs in the country to seek outside investments, leading to a flurry of interest in other Brazilian teams, including Atletico Mineiro — which could sell a 51% stake for $208 million

Staying Busy 

In July, CFG completed its acquisition of an 80% stake in Italian club Palermo.

The deal for the Serie B club — Italy’s second-highest level of pro soccer — was reportedly worth between $13 million and $14 million.

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