Ferran Soriano assures that the Brazilian club will be the second in importance in the group
The City Group agrees to inject some 200 million euros into Bahia, 100 of them in transfers
Bahia is officially part of the City Football Club since Thursday. In a ceremony held in Salvador, where Ferran Soriano, CEO of the group, was present, the sale of 90% of the shares of Tricolor Bahiano was formalized, which becomes the thirteenth club that dominates the entity originally based in Manchester and capital of the United Arab Emirates.
“Bahia is an exceptional club due to its size, due to its fans, which is why it will be the second largest club in the group. Its social significance is enormous because the Bahia is part of the social fabric of the city of Salvador and its state”, Ferran Soriano assured.
“This is a very important moment for Bahia, but also for all of us, today we celebrate the first day of a relationship, of a journey that aims to take this club to the fullest of its potential. We have a lot of responsibility”, the ex-director of Barça has exposed.
The sale agreement indicates that the City Group agrees to invest some 200 million euros in the entity, of which 100 will be for signings to raise the level of the current squad. The objective that the entity has set itself, in a short period of time, is to be able to fight for the main Brazilian and continental titles. Some 60 million euros will be used to pay the club’s debts and another 40 approximately, which are not mandatory, will be dedicated to modernizing the infrastructures and the base categories.
The entry of the City Group in Brazil occurs within the wave of foreign investment in Brazilian clubs since the law on sports corporations was created. In this specific case It is also due to help City keep under control a part of the football talent that is born in the country that exports the most players on the planet.