Bahia closes with City Group and calls consultants to present SAF proposal
After almost a yr of negotiations, Bahia’s board of administrators convened councilors this Tuesday (twentieth) to present a proposal to formalize and promote the membership’s eventual Football Association (SAF) to Arab fund City Football Group. The ceremony will happen on Friday (twenty third) at 7 pm on the Bahia Museum in Fonte Nova.
Grupo City representatives have arrived in El Salvador since Monday to focus on the main points of the proposal. They have been in CT Evaristo de Macedo and met with Bahia officers. Today, the entourage was once more subsequent to the tricolor within the coaching heart, the place they watched collectively the under-17 staff’s match in opposition to Fluminense.
After the presentation of the provide to the administrators, the doc will probably be analyzed by the consultative council and the audit committee and will give an opinion on the proposal. The last choice on whether or not or not to promote SAF do Bahia to Grupo City will probably be determined by the companions on the Extraordinary General Meeting (AGE), which will probably be convened.
Negotiations between Bahia and Grupo City started final September. In December, the events signed the primary contract. The talks have been revealed solely in February this yr.
Since then, Bahia and Grupo City have intensified negotiations and reached an settlement. The last impediment to publication was the debt the Squadron owed to Banco Opportunity, which was a shareholder of the membership between 1998 and 2006. The dispute was resolved in July.
In May, representatives of town have been additionally within the capital of Bahia to consider the settlement. They obtained to know Fonte Nova and Bahia landmarks like Fazendão and CT Evaristo de Macedo.
With the potential arrival of City Group, Bahia hopes to make a leap on a monetary and sporting stage. The values of the provide haven’t but been disclosed, however in April CORREIO famous that the settlement foresees a contribution of R$650 million by 90% of SAF to Bahia. Tricolor claims that the principle debate was primarily based on a sports activities mission.
“Since final yr, when the legislation was handed, we now have been searching for the design of what could be the very best mission for Bahia. We have made a whole lot of progress and we’re very shut to constructing this mission. Because Bahia just isn’t out there to verify. SAF discussions about Brazilian soccer are: “This group will make investments R$ 700 million, R$ 800 million, R$ 1 billion.” is the mission we wish to present to associate and associate, for guide and guide for evaluation. There is, in fact, cash concerned on this mission. Don’t construct a successful mission that will change the extent of Bahia with out an funding of sources. However, the attraction can’t be the one choice,” defined the tricolor president in an interview granted in March.