Celta Vigo in talks to purchase Portuguese club with Ecuadorian syndicate | OneFootball

Celta Vigo are in talks to purchase a majority share in Portuguese club Pacos de Ferreira, as per the latest reports from the Iberian Peninsula.

The Galician side are partnering with an Ecuadorian investment group, to which Independiente del Valle belong, and are looking to purchase an 80% share. Portuguese paper Record, as carried by Relevo, say that the period of negotiation has been extended by two weeks. The current bid is around €10m. Celta have denied that Gestifute, the agency run by super-agent Jorge Mendes are involved in the talks, although they have been in touch with him.

President Marian Mourino has admitted talks with Pacos and other clubs, in a bid to extend their scouting network and player development paths. Currently Pacos are in the second tier in Portugal, and the city lies just a few hours by car from Vigo, which is just over the Spanish border. Celta have always enjoyed close ties to Portuguese football as a result.