City Football Group: agreement to acquire Brazilian club EC Bahia

City Football Group (CFG), an investment company specialised in football (clubs, infrastructure, startups, etc.) will acquire a majority stake in Brazilian club Esporte Clube Bahia (promoted to the Brasileirão Assaí in 2022-23), announced the two parties on 03/12/2022.

98.6% of "more than 13,000 club members" who took part in the vote were in favor of the creation, in parallel with the existing association, of a public limited company (Bahia SAF) of which City Football Group will become majority shareholder at 90%, against approximately 127 million euros, according to the local press. The remaining 10% will be controlled by the Brazilian club association. "Bahia and City Football Group will continue working to complete the necessary conditions to finalise the transaction, with the aim of concluding it in early 2023," explained the two entities.

CFG is already a majority shareholder of five European clubs: Manchester City FC (Premier League), Girona FC (LaLiga Santander), Lommel SK (Belgian 2^nd division), Palermo FC (Serie BKT) and Espérance Sportive Troyes Aube Champagne (Ligue 1…