Finance guru: Man City to funnel ‘riches’ into ‘untapped market’ amid £81m development
Brazil is still an “untapped market” as far as Premier League investment goes – and it is no surprise to see Man City stake millions to take advantage.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about City Football Group’s soon-to-be-completed acquisition of Brazilian second-tier club Bahia.
As relayed by Sports Pro on Tuesday (27 September), the multi-club umbrella organisation that owns Man City is set to make Bahia the 12th club in their portfolio.
The current Bahia regime have accepted a £174.9million takeover proposal.
It is understood that £80.7million of that figure will be reserved for new signings, while £49.34m will be set aside for paying off club debts and the remainder for infrastructure investments.
Liverpool owners Fenway Sports Group have also been heavily linked with a takeover in Brazil, and new Chelsea owner Todd Boehly has identified the region as a target market as he looks to launch his own multi-club empire.
Plumley detailed why the country is seen as ripe with opportunity for Premier League clubs with global ambitions.
“It’s an untapped market,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“We know the appeal of football in South America. Some of the games and rivalries that take place there transcend around the world.
“Obviously, Premier League riches and ownership models would fit into that fairly easily.
“You would imagine that they would generally be cheaper to buy than some other clubs in and around Europe, and Brexit has an impact as well.”
In other news, pundit suggests Man City could sanction Bernardo Silva exit in January after update from Spain.