City Football Group (CFG) have bought Brazilian club Bahia.

CFG have taken a 90 per cent stake in Bahia.

They have committed €200m to Bahia, €60m to clear debts, €40m to improve facilities and another €100m to improving the squad.

Manchester City chief Ferran Soriano said: "Bahia is an exceptional club due to its size, due to its fans, which is why it will be the second largest club in the group (CFG). Its social significance is enormous because Bahia is part of the social fabric of the city of Salvador and its state.

"This is a very important moment for Bahia, but also for all of us. Today we celebrate the first day of a relationship, of a journey that aims to take this club to its full potential. We have a lot of responsibility."