I was the leader of an element. The cruise was uneventful, it was planned to arrive at destination and perform an overhead pattern in order to reduce weight to land . We entered in closed formation until initial where we split and flew a low approach, after that, as I was entering base leg of Rwy 05 in SAOC the engine quit. Rpms were winding down in a dramatic way. I was 2000 ft above field elevation and with 210 Kias. The city was right in front of me so while I was trying to understand my status, I decided to continue banking towards the runway for a clear area. Everything was similar to a simulator session, I switched the relight knob, nothing happened except speed dropping and pitching up in an unusual attitude. All I was able to communicate was “se clavó el motor”, as I was trying to determinate if my engine was relighting I saw the speed at 150 Kias when the normal speed should be at least 190, my left hand pulled from the bottom handle. The first thing I thought was that It did not work, one second later I was rocketed in a 12G acceleration. My head was pushed do  wnward and I could see the plane crashing behind me and felt the heat from the explosion. As I was trying to see upward If my canopy was inflated I saw roof houses in front of me, I was very low and have to concentrate on landing as soft as I could.