The parent company of Manchester City - City are its flagship club - has tabled the bid after a recent law change in Brazil that allows clubs to receive outside investment. CFG are hoping to acquire a 90 per cent stake in the two-time Brazilian champions, with the bid said to also include an option to acquire a further 5 per cent of the club.
The bid for the Salvador-based side still needs the approval of club members, but should it be accepted Bahia will become the 13th club in the ever-expanding CFG portfolio.
CFG was founded in 2013 around the same time that New York City FC was founded. Since then clubs including Melbourne City, Yokohama F. Marinos, Girona and Troyes have come under its umbrella, with CFG holding different levels of control in each club.