Millonarios FC has not been sold, and a widely circulated social media rumor claiming that the City Football Group is buying the Colombian club is entirely unfounded. While ownership changes at Azul & Blanco Millonarios are under discussion, primary stakeholders and club leadership confirm that no final transaction has been completed.
Amber Capital Seeks an Exit After More a Decade
Investment fund Amber Capital arrived as a stakeholder in Millonarios in 2012, steadily increasing its holdings over the years to become the majority shareholder of Azul & Blanco Millonarios. Reports indicating the fund’s desire to offload its stake and recoup its long-term investment first surfaced months ago, intensifying in July when financial proposals for the Bogotá-based institution began circulating.
Those summer proposals carried estimated valuations. Gustavo Serpa, representative for Amber Capital and president of the Millonarios board of directors, acknowledged that discussions and interesting offers existed, but emphasized that negotiations had not reached a finalized agreement.
Kapital Football Group Advances Due Diligence in Bogotá
Among the groups engaged in active discussions, Kapital Football Group has emerged as the most prominent suitor. Associated with DaGrosa Capital Partners—which has carried out other sporting projects such as Girondins de Bordeaux in France—Kapital Football Group has dispatched representatives to Colombia to conduct a thorough financial and legal review of the institution.
This operational audit, known as a due diligence process, allows prospective buyers to scrutinize club accounts, player contracts, and regulatory obligations before making a binding acquisition decision. American businessman Joseph DaGrosa and Portuguese executive Hugo Varela have both been tied to the evaluation. Varela was spotted at Estadio El Campín observing Millonarios play Boyacá Chicó alongside the unveiling of star signing Juan Guillermo Cuadrado. While these visits point to serious interest and grant the group an exclusive negotiation window, club officials reiterate that ownership has not changed hands.
City Football Group Rumors Dismissed Amid Financial Scrutiny
Social media speculation peaked when unverified reports claimed the City Football Group—parent organization of Manchester City, Montevideo City Torque, and Bolívar of Bolivia—was preparing a multi-million-dollar bid to absorb Millonarios into its global network. Sources close to both the English conglomerate and Millonarios swiftly debunked the rumor.
At the same time, the City Football Group faces unprecedented regulatory pressure in Europe. The Football Association has formally accused Manchester City of 114 alleged breaches of financial regulations spanning multiple seasons, leaving the organization exposed to severe sporting and financial sanctions.
Valuation Estimates Remain Confidential
Public reporting over the past several months has attached varying price tags to Millonarios, with figures tied to interested buyers like Kapital Football Group. However, because no transaction has reached completion, club leadership has not published an official valuation, and final financial terms remain strictly confidential between the involved parties.
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