Vasco secure investor and creditor OK, move ahead with SAF sale | OneFootball

The approval of the Judicial Recovery plan for Vasco da Gama last Thursday night (10th) was the most strategic victory for the board this year. The creditors' decision not only reorganizes the finances but, more importantly, clears the path for the ultimate goal: the sale of the SAF. According to ESPN, the club already has an “investor lined up” and needed the issues resolved to move forward with the deal.

+ Vasco details the list of its main creditors in the Judicial Recovery

Urgency for the sale of SAF motivated the negotiation

The urgency for Vasco to approve the plan at the assembly had a clear reason: to speed up the sale of the SAF. ESPN found that it was “practically ruled out to buy the club without settling these issues.” Therefore, the board moved intensely behind the scenes, with negotiations that went on into the night, to ensure approval.

The path, however, was tortuous. Vasco's initial proposal to apply a “92% discount” on larger debts irritated creditors and halted the assembly twice. The rejection of the plan would jeopardize the entire schedule for the sale of football.

Final agreement ensures approval and the future

After more than six hours of meeting, the parties reached a consensus. For the labor class, new conditions were offered, with payment caps of R$ 1.5 million and R$ 5 million. The agreement ensured the approval of 97.7% of the creditors.

With the RJ settled, President Pedrinho, who according to ESPN is optimistic about the sale, now has a clear path to negotiate a new future for Vasco's football.

Sources confirm that Pedrinho wants to sell the SAF – Photo: Dikran Sahagian/Vasco

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This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.