Sports

Bahia closes with City Group and calls advisers to present proposal to SAF

After virtually a yr of negotiations, the Bahia board convened councilors this Tuesday (twentieth) to present the proposal to formalize and promote the membership’s eventual Football Association (SAF) to Arab fund City Football Group. The ceremony will happen on Friday (23), at 19:00, on the Bahia Museum, in Fonte Nova.

Representatives of Grupo City have arrived in Salvador since Monday to talk about the main points of the proposal. They have been in CT Evaristo de Macedo and met with representatives of Bahia. Today, the entourage was once more subsequent to the tricolor board of the coaching middle, the place they watched the U17 staff’s match towards Fluminense collectively.

After presenting the provide to the administrators, the doc shall be analyzed by the Advisory Board and the Audit Committee, which can give an opinion on the provide. The last resolution on whether or not or not to promote SAF do Bahia to Grupo City shall be determined by the companions at a yet-to-be-convened Extraordinary General Meeting (AGE).

Negotiations between Bahia and Grupo City started final September. In December, the events signed the primary contract. However, the talks have been solely revealed in February this yr.

Bahia and Grupo City have since stepped up negotiations and reached an settlement. The last impediment to the announcement was the debt Squadron had with Banco Opportunity, which was a shareholder within the membership between 1998 and 2006. The challenge was resolved in July.

City representatives have been additionally within the capital of Bahia in May to assess the deal. They acquired to know Fonte Nova and Bahia’s heritage websites, corresponding to Fazendão and CT Evaristo de Macedo.

An funding
With the eventual arrival of City Group, Bahia hopes to make a leap in monetary and sporting phrases. The values ​​of the provide haven’t but been disclosed, however in April CORREIO discovered that the settlement calls for a contribution of R$650 million from 90% of SAF do Bahia. The tricolors declare that the primary dialogue was in regards to the sports activities venture.

“Since final yr, when the regulation was handed, we’ve got been on the lookout for the idea of what can be the perfect venture for Bahia. We have made loads of progress and are very shut to constructing this venture. Because Bahia isn’t in a market to test SAF discussions in Brazilian soccer are: “This group will make investments R$ 700 million, R$ 800 million, R$ 1 billion.” is the venture we wish to put for the associate and the associate, for the Advisor and Analysis Advisor. Within this venture is the cash, in fact. You do not construct a worthwhile venture that modifications the extent of Bahia with out injecting assets. But the enchantment can’t be the one resolution,” the tricolor president defined in an interview given in March.

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