Manchester City’s owners set to buy new club despite facing Premier League financial charges

Manchester City’s owners are operating as usual despite Premier League charges, with reports saying they are closing in on the completion of a deal to buy another club.

News broke on Monday that City had been referred to an independent commission after a four-year investigation into the English champions’ dealings between the 2009/10 and 2017/18 seasons.

But the company which owns City, the UAE-funded City Football Group (CFG), appear to be pressing on with business as normal.

According to the Mirror, CFG will buy a 90% stake in Bahia – who won promotion back to Brazil’s top flight last year – to make them the 11th club in their global portfolio.

Chief executive Ferran Soriano was key in the deal and though the club liked the proposal on the table, it was the fans who were given a huge say in the decision.

A poll was held at the 48,000 capacity stadium Arena Fonte Nova in Salvador and 98 per cent of members voted in favour.

Bahia now look set to be part of the City Football Group by the time their league season starts in April. They finished third in Serie B last term and will look forward to a season back in the big time.

Bahia last won the league in 1988 but were playing in the third tier in 2007 after suffering relegation.

It is a big statement of intent by the Premier League champions to illustrate how the club’s Abu Dhabi and American owners are continuing to press ahead with plans for the future despite battling the Premier League’s case.

Manchester City are the biggest club of the CFG’s portfolio where they own teams in various countries around the world.