City Football Group are reportedly weighing up a move for Colombian club Millonarios, according to local sources cited by Tribuna. This potential acquisition could expand Manchester City's presence in South America.
Colombian outlet El Futbolero suggests that CFG are interested in purchasing the Bogotá-based club, with an estimated bid around €90 million (£78.5 million).
However, there has been no independent confirmation of any official offer at this moment.
CFG could add another club to their South American portfolio
Millonarios are already attracting attention from potential investors. The controlling stake in the club belongs to Amber Capital, who are exploring various options for a sale.
Alongside CFG's interest, negotiations are reportedly underway with Kapital Football Group. Journalist Pipe Sierra has claimed that talks between Millonarios and Kapital Football Group are at an advanced stage, according to Colombia.
Hugo Varela, one of the executives from Kapital Football Group, was spotted at El Campin stadium during a visit to the club.
Value of Millonarios estimated below €90 million
Various assessments currently place the value of the Colombian club between €55 million and €68 million.
Millonarios' director Gustavo Serpa confirmed that the club has received an "interesting" proposal, but a thorough audit will be necessary before any potential ownership change.
If reports of CFG's €90 million offer are confirmed, it would exceed many current valuations for the club.
What this means for Manchester City's structure
Acquiring Millonarios would enable City Football Group to further extend their multi-club network into the South American market.
There is particular interest in the potential impact CFG could have on Millonarios' academy and sports structure. However, it remains uncertain if negotiations with City Football Group are indeed at an advanced stage.
