Manchester City's parent group buys Brazilian side EC Bahia for £158m
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 Manche...
Source: theathletic.com