Athletico-linked official taunts Vasco, but Lamacchia deal says otherwise | OneFootball

Vasco’s SAF model has become a negative example in a discussion about Athletico’s future. Lawyer Luiz Fernando Casagrande Pereira, president of the OAB-PR and who works for the Paraná club on the Arena da Baixada debt case, put the Cruz-Maltino on a list of clubs that, according to him, “gave themselves over” to SAFs to pay off debts.

The statement was made on the Carneiro & Mafuz podcast and comes at a sensitive time for Vasco, just days before the vote in the Deliberative Council on the sale of the SAF to Marcos Lamacchia.

What the OAB-PR president said about Vasco

While arguing that Athletico should transition to a SAF after the Petraglia era, Pereira compared Furacão’s situation to that of other clubs:

“Athletico will not give itself over to a SAF the way, for example, Botafogo, Vasco and Cruzeiro did, to pay debt. Or Coritiba itself.”

According to him, the difference lies in assets. The lawyer said Athletico has positive net assets of R$ 1 billion, called it an “exception among exceptions,” and said neither the Arena nor the training center would need investment. Because of that, all of an investor’s money would go to football.

+ Libertadores champion with Botafogo offers himself to Vasco on livestream: “Who wouldn’t want to be part of it?”

Pereira also cited Bahia and Coritiba as examples of SAFs that need to allocate part of the money to improvements in stadiums and training centers.

“It’s not enough to have money”

The OAB-PR president also said Athletico has set conditions for a possible sale:

“It’s not enough to have money, I want to know what the project is of the group that is coming in.”

In his view, the club should transition to a SAF “with no rush at all,” choose the best possible investor, and create governance that is not held hostage by elections that, in his words, “sometimes put a fan in the presidency.”

The Lamacchia deal pushes back against the criticism

The remark touches on a point that Vasco itself tried to address in the new negotiation. The memorandum of understanding with Almirante Participações, Lamacchia’s company, provides for a minimum investment of R$ 500 million exclusively for football through 2030. And the document is explicit: that money cannot be used to pay debts or to fulfill other SAF obligations.

Debts, such as those tied to Judicial Reorganization and tax liabilities, are handled in separate commitments. If there is not enough money to honor them, the contract requires Lamacchia to make additional contributions without increasing his stake in the SAF.

The deal also provides for R$ 120 million for the professional training center over 10 years and R$ 30 million for the youth academy over two years. In other words, unlike the Athletico scenario described by Pereira, Vasco does need to invest in infrastructure, but those amounts do not come out of the football budget.

The trauma of 777 Partners

It is true that Vasco’s first experience with a SAF left scars. The sale to 777 Partners in 2022 was heavily driven by the club’s financial crisis. The American group failed to make the promised investments, and Vasco regained control of football through the courts in 2024.

It was precisely that history that led the club to seek tougher guarantees in the new contract. Among them are power of attorney to collect directly from Lamacchia in the event of default, a ban on distributing dividends for 10 years, and a ban on selling new shares during the same period.

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Next step: Council vote

The deal with Lamacchia will be voted on by the Deliberative Council on Tuesday (6). If approved, it will still need to be passed by the members in an Extraordinary General Assembly. Almirante will hold 90% of the SAF, while the other 10% will remain with the membership club.

What about Athletico?

While Vasco moves toward its second SAF, Athletico still has no news. The club has been looking for investors for some years through BTG Pactual, but no talks have moved forward.

Furacão’s next elections will only take place at the end of 2027. President Mario Celso Petraglia, who spent two weeks hospitalized in July, has returned to his duties normally.

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