Vasco SAF sale advances, but debt, investment and rules still weigh on deal | OneFootball

Vasco and representatives of Marcos Lamacchia have advanced talks over selling the club’s SAF, focusing on the restructuring plan, tax debts and investment in football and infrastructure.

ANRESF president Caio Resende said any deal with the Lamacchia group would face rigorous scrutiny under Brazil’s new financial sustainability rules.

Optimists see a deal within weeks, though it still needs board approval and a fix for the stake bought by 777, now A-CAP.

One pillar is assuming all liabilities. Much sits in judicial recovery, with significant tax debt outside it. The bill is at least R$ 1 billion, and labour claims would be repaid over at least 10 years.

The second pillar is sustained football investment, alongside urgent upgrades to the training centre. Vasco wants performance-linked penalties and to channel part of player-sale income, with 6% of net extraordinary revenue already earmarked in the recovery plan. The investor says the final cheque shrinks if sales cannot support injections, though neither side sees major hurdles.

Despite differences, both sides consider a deal close, though internal debate persists. A G8 group, including president Pedrinho, is wary of selling. Governance ideas include Pedrinho in initial oversight and measures to avoid conflicts, such as suspending veto and voting rights or starting below a 10% stake.

The SAF share split is 30% for the association, 31% for 777, and 39% under Vasco by court order, now in arbitration. Selling the disputed block would require an agreement or a ruling in Vasco’s favour.

Source: Globo.com