U.S. investment fund channels purchase of 51% of major Brazilian soccer club for around US$165 million

Brazilian soccer could very well soon have another corporate club.

After Bragantino, Botafogo, and Cruzeiro, it is now the turn of Atletico MG, the reigning Brazilian champion, whose shares are to be sold to an American investment fund.

According to “Rádio Itatiaia”, Atletico MG has forwarded the sale of 51% of its shares to an American fund.

The investor, who is still unknown to fans of the Belo Horizonte club, will pay around R$850 million (US$165 million), 10% to 15% for sponsors, and the remainder will remain with the association of Galo.

According to the source, the deal could also reach the R$1 billion mark.

In talks between Atlético MG and the American fund, it was decided that the new arena of the club and the CT (city of Galo) would be owned by the club.

The new and great partnership announcement should be made soon through official channels.

Recently, two American funds have shown interest in buying Atlético MG.

The interested parties were the owners of Liverpool and Todd Boehly, who had recently acquired Chelsea’s shares from the Premier League.

However, for unknown reasons, no agreement was reached.

Galo Mineiro returns to the pitch on Monday away from home in a six-pointer against Fortaleza, both with an eye on the Libertadores.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error