Manchester City have approached Atletico Mineiro about joining their City Football Group.

Globo Esporte says Atlético Mineiro have received a proposal to sign a partnership with the City Football Group (CFG), which notably owns Manchester City, FC New York City and even Troyes in France.

CFG have made a proposal of €180m to become the majority shareholder of the Brazilian Serie A club.

The board of Mineiro has not accepted the opening offer, as they've asked for double the proposal - despte their fragile financial situation.

Negotiations have been underway since November and Atletico met two weeks ago with Ferran Soriano, City's chief exec, who wishes to establish a permanent presence in South America.

The City Football Group already owns Montevideo City Torque, a Uruguayan first division club. Negotiations are now continuing.