City Football Group bid for Atletico Mineiro: Report

RIO DE JANEIRO: City Football Group (CFG), the Abu Dhabi firm with investments in Manchester City and 10 different soccer golf equipment, has made a bid to purchase Brazilian league champions Atletico Mineiro, Brazil web site Globoesporte.com stated on Monday.

The group provided round 1 billion reais (US$195.64 million), the report stated, however the bid was rejected as being too low.

The Belo Horizonte membership is closely indebted to a gaggle of native businessmen who loaned cash to the membership over the previous few years and turned it into considered one of Brazil’s most profitable.

The crew gained the Brazilian league and cup double final season and is constructing a brand-new stadium. Globo stated the debt final 12 months hit 1.3 billion reais.

Atletico wouldn’t touch upon the report, saying it was “speculation.”

Premier League champions Manchester City didn’t instantly reply to a request for remark.

If the deal was carried out Atletico can be the most recent Brazilian membership to fall into personal palms since laws was handed final 12 months permitting outdoors buyers to personal Brazilian groups.

Until then, golf equipment had been owned by their members.

In current months, Cruzeiro have been purchased by a consortium led by Ronaldo, Botafogo had been bought by a gaggle led by a part-owner of Crystal Palace, and a US funding agency took management of Vasco da Gama.

CFG is likely one of the strongest names in soccer and the bulk proprietor of Manchester City, New York City FC, and Melbourne City.

It additionally has invested cash in Yokohama F. Marinos in Japan, Montevideo City Torque in Uruguay, Girona in Spain, Sichuan Jiuniu in China, Mumbai City in India, Lommel SK in Belgium and Troyes in France.