City Football Group Linked With €90m Millonarios Bid as Amber Capital Opens the Door at El Campín

City Football Group, the Abu Dhabi-owned parent of Manchester City, has been linked with a bid worth around €90 million (£78 million) for Millonarios, the 16-time Colombian champions, according to reports from Bogotá published by El Futbolero and relayed internationally by Sport Witness, Tribuna and City Xtra on 24 September. The claim has not been confirmed by any party to the deal — but it lands on a sale process that is real: control of the Bogotá club has been openly for sale by majority shareholder Amber Capital, and club director Gustavo Serpa has publicly acknowledged receiving an "interesting" offer.

What has actually been reported

According to El Futbolero, versions circulating in Colombia suggest CFG could have an offer worth roughly €90m on the table for a controlling stake in Millonarios, with capital injection, infrastructure improvements and priority access to young signings presented as the package. Read Man City, covering the story on 25 September, noted the significant caveat: no direct confirmation from CFG, Millonarios or their owners, and no original local source vouching for the €90m figure. Reported valuations of the club have ranged between €55m and €68m, well below the headline number.

The concrete part is the ownership process itself. Amber Capital, the US-based fund, has controlled 86.1 percent of Millonarios since 2015 through the publicly traded vehicle Azul y Blanco S.A. and has been entertaining approaches. Infobae reports this is the fourth offer since 2022, the previous three having collapsed. The most advanced suitor to date is Kapital Football Group, the investment vehicle linked to US-based DaGrosa Capital Partners and featuring former CFG business director Francisco López, which has reportedly negotiated a period of exclusivity with the club. Its stated ambition — a multi-club ecosystem modelled directly on the City Football Group blueprint — means CFG would effectively be bidding against a group built in its own image.

Why Millonarios fits the CFG map

Strategically, the logic is straightforward. CFG already holds South American assets in Bahia of Brazil and Montevideo City Torque of Uruguay, alongside a partnership with Bolivia's Club Bolívar, and Colombia is the conspicuous gap in that network. Millonarios, one of the two most decorated clubs in the country and historically the country's biggest gate, would be a statement acquisition — the kind of franchise asset that has anchored every previous CFG expansion, from New York to Mumbai to Melbourne. Any deal would still require the legal and financial audits Serpa has flagged, and club sources stress nothing is closed.

There is an interesting offer, but there is no closed deal — the legal and financial review still has to happen.— Paraphrase of remarks by Millonarios director Gustavo Serpa, reported by El Futbolero and Infobae, 24-25 September 2026

The timing is delicate for the buyer's reputation as much as the seller's. CFG's name is surfacing in Bogotá the same week Manchester City were found liable on 114 of 115 Premier League financial charges, with appeals planned — and any new multi-club acquisition, in a jurisdiction with its own federation and competition rules, would draw scrutiny of exactly the inter-club transaction governance the Premier League case has put under the microscope. For Millonarios supporters, the question is older and simpler: after a decade under a fund that never converted control into continental success, whether the next owner is Abu Dhabi or Miami money, the promise will be the same one Amber Capital made in 2015.

Nothing in the reporting suggests a signed agreement, and both clubs' silence should be treated as part of the record. What is beyond doubt is that Millonarios' ownership is in motion, and that the list of parties taking the club's sale seriously now reportedly includes the biggest multi-club operation in world football.

Reported by Ines Kovač from reporting by El Futbolero, Sport Witness, Read Man City, City Xtra, Tribuna, Colombia.com and Infobae. Figures and claims are as reported by those outlets and unconfirmed by City Football Group or Millonarios. Cover image: Estadio Nemesio Camacho El Campín, home of Millonarios, via Wikimedia Commons, Creative Commons licence.