Manchester City’s owners are considering a move to buy Colombian giants Millonarios, potentially giving City Football Group a major new foothold in South America.
Claims of interest from CFG have gathered pace in Colombia over the past few days. A figure of €90m (£78.5m) has even been attached to a possible deal.
There is clearly something happening around Millonarios and their ownership. The important bit, though, is separating that from how solid the Manchester City part of the story currently is.
Manchester City owners being pulled into Millonarios sale
Colombian outlet El Futbolero published multiple reports claiming that City Football Group are interested in buying Millonarios.
They went well further than just mentioning interest. According to the outlet, versions circulating in Colombia suggest CFG could have an offer worth around €90m (£78.5m) on the table.
That claim has since produced a string of stories in Colombia about what a CFG takeover could mean for Millonarios.
There has been discussion about their academy, the future of current directors and how the Colombian club could fit into CFG’s network.
But it’s worth applying the brakes a little here, because we haven’t found an original local source confirming that €90m (£78.5m) proposal or even CFG’s interest.
Real sale process behind the claims
What makes this a bit more interesting is that Millonarios do appear to have attracted serious outside interest. Amber Capital control the majority of the Bogotá club and have been considering approaches.
Another prospective buyer, Kapital Football Group, has been linked much more concretely with the process.
Colombia.com recently relayed claims from journalist Pipe Sierra that talks with Kapital were “advanced”. Hugo Varela, one of the group’s leading figures, was also pictured at Millonarios’ El Campín stadium.
Reports have put figures of around €55m (£47.5m) to €68m (£58.7m) around the club’s valuation and potential offers. Millonarios director Gustavo Serpa has at least acknowledged an “interesting” offer, with audits still required before anything can be completed.
And, well, that gives us a genuine takeover story. Whether CFG are as far into it as some of this week’s coverage suggests is another matter.
There is a fun little twist, too. Kapital’s proposed multiclub project has itself been described as taking inspiration from the City Football Group model.
CFG could therefore, if the Colombian claims prove accurate, be competing against a group trying to build something partly inspired by them.
| Club | Joined | Reported cost | What it covers |
|---|---|---|---|
| Manchester City | 2013 | About £210m | Sheikh Mansour’s 2008 takeover, before CFG was formed |
| New York City FC | 2013 | $100m | MLS expansion fee paid by the original ownership group, including the Yankees |
| Melbourne City | 2014 | About A$11m | Consortium purchase of Melbourne Heart; CFG initially held 80% |
| Montevideo City Torque | 2017 | Undisclosed | Acquisition of Atlético Torque |
| Girona | 2017 | Undisclosed | CFG initially acquired 44.3% |
| Shenzhen Peng City | 2019 | Undisclosed | Joint acquisition of Sichuan Jiuniu |
| Lommel SK | 2020 | About £2m | Reported acquisition price |
| ESTAC Troyes | 2020 | Undisclosed | Acquisition |
| Palermo | 2022 | About €12m–€13m | Reported price for an initial 80% stake |
| EC Bahia | 2023 | Purchase price undisclosed | CFG acquired 90%; its R$1bn commitment also covers debt, players and infrastructure |
| Yokohama F. Marinos | Partner club | No current acquisition cost | CFG sold its stake in 2026 and remains a partner |
| Club Bolívar | Partner club | No acquisition cost | Partnership rather than a purchase |
Why Colombia would make sense for CFG
The attraction isn’t particularly difficult to see. City Football Group already have South American clubs in Montevideo City Torque (Uruguay) and Bahia (Brazil). They also have a partnership with Bolivia’s Club Bolívar.
Colombia remains a gap in that network. Millonarios would be quite a way to fill it. They are one of Colombia’s historic clubs, based in Bogotá, with a large support and an established youth system.
Recent graduates such as Óscar Cortés, Néiser Villarreal, Jorge Carrascal and Carlos Andrés Gómez have already shown the club’s ability to develop players for moves abroad.
In the end, the sale process appears real and international investors are circling. Manchester City’s owners are now being repeatedly placed among them.
The €90m (£78.5m) part requires considerably more caution. For now, it’s a big claim being repeated in Colombia, but not yet a figure we can trace to a confirmed proposal.
