Manchester City's Owners Future Plans For The City Football Group Revealed

It was recently confirmed that the City Football Group had completed the takeover of Palermo.

It was also revealed that Manchester City’s owners had initiated the buyout for a fee in the region of €12 to €13 million for a major 80% stake.

Competing in the Serie A as recently as in the 2016/17 season, bankruptcy meant the side fell as far as partaking in the Serie C last term.

However, with CFG taking the reins, it is expected that the now-Serie B outfit could return to their former glory days after all.

As a result, the multi-club network now involves 12 teams across the planet due to Palermo’s recent involvement as the fifth European side as a part of the global network.

Interestingly, a new update has emerged that suggests that the group will do anything but rest on their laurels after their recent takeover.

According to a report by Mark Douglas of iPaper, the City Football Group are eyeing a move for Brazilian club Bahia as well as assessing the Dutch market after their failed purchase of NAC Breda.

First things first, CFG’s interest in taking over the Salvador-based outfit is not a brand-new revelation.

NAC Breda were on the CFG's radar (Sipa US / Alamy)

In February, it was claimed that the multi-club network had first entered negotiations with the Campeonato Baiano side.

At the time, it seemed as if the City Group were sounding out the country’s acquisition market as they had made contact with ten different sides.

However, April seemed to be a month where things kicked into gear as Bahia president Guillherme Bellintani had travelled to England to finalise a deal once and for all.

Additionally, it was also reported that the Sky Blues’ owners were keen on getting a deal over the line for £104 million.

Ultimately, several sources claimed that CFG’s intention was to make Bahia one of the six biggest clubs in Brazil and the second most essential side in their vast portfolio.

As for NAC Breda, it was confirmed by the club via an official statement that the City Football Group had all but completed their takeover in March.

However, the club’s supporter groups placed a banner outside the Etihad Stadium in opposition of the Dutch side’s purchase due to their sheer opposition of the Abu Dhabi United Group ownership.

It is worth noting that while the City Football Group aim to buy a club in the Netherlands, their reasons for taking ownership of Bahia align due to similar reasons.

Firstly, both Holland and Brazil boast major footballing markets which will allow the City brand to gain incredible exposure.

Secondly, both nations produce an enviable conveyor belt of talent that could be seen as potential options for Manchester City’s first-team, or for the other sides in their portfolio.

Ultimately, these clubs will be beneficiaries of the City Football Group’s involvement as well as they boast of a proven track record of changing several sides’ fortunes under their ownership for the better.