City Football Group, purchases a stake in a Brazilian team.
According to Football Insider, Man City’s owners City Football Group have promised Bahia £80 million in transfer funds.
Additionally, there are plans to expand the club’s scouting network and make sizable infrastructure investments, building on the recent work with City Football Group.
The takeover of the storied Salvador-based team by the multi-club network, which has been extensively covered on this site, was agreed upon more than six months ago but only recently was it legally completed.
However, over the intervening time, the two organizations have collaborated on projects. These projects were visible to the public via social media as well as quietly behind the scenes.
After all the formalities were completed, City Football Group wants to get started right away. Finalize on the club’s upcoming investment in the transfer market phase of its plans.
Although that amount will be spread over several seasons, about £80 million has been set aside for new acquisitions.
The new owners want to transform Bahia into a destination club rather than just a wing of Manchester City. They are following a large group of new investors who have determined that the domestic Brazilian game has untapped potential.
They do not, however, want to acquire new players at the expense of promoting the development of young players. This philosophy has been at the core of City Football Group’s operations at all of their outposts.
After Uruguayan team Montevideo City Torque, Bahia is the second club in South America. And the 12th overall in the network of the group.
Brazilian Série A team Bahia, which was promoted from the second division last season, has three points after three games.