💵 Atlético-MG changes timetable and delays R$500m injection; why | OneFootball

Atlético-MG had to reschedule the date for receiving the R$ 500 million financial contribution promised by Rubens and Rafael Menin, the majority shareholders of the club’s SAF.

The initial deadline set by Galo CEO Pedro Daniel was 30 days and would expire at the end of April. However, due to bureaucratic procedures that still need to be completed, the capital injection has been pushed back to May.

The information comes from the website ge.

The bureaucratic path

For the money to actually enter the club’s coffers, the board must meet the club’s legal requirements.

The next step is to call a meeting of the Deliberative Council, which must be done by April 30. After that, there is a mandatory 15-day period before the assembly can take place.

Once the Council approves the transaction at the meeting, the deal will be finalized. Because of these deadlines, the expectation is that everything will be completed after May 15.

Relief for bank debts

The main goal of this cash injection is to pay off debts with banks. Currently, the high interest generated by these loans is suffocating the club’s budget and directly harming football operations.

Atlético-MG’s latest financial statement shows total debt of R$ 1.8 billion, with nearly R$ 941 million corresponding to bank liabilities.

With the contribution, the goal is to reduce this financial strain, improve cash flow, and provide more peace of mind for football investments.

Dilution of sidelined shareholder

The financial move will have an important impact on the ownership structure of the black-and-white SAF.

Under the law, for the other partners to maintain their current ownership percentages, they would need to match the investment made by the Menin family proportionally.

This is the case of Daniel Vorcaro, a banker who invested R$ 300 million and now holds about 20% of the shares.

Vorcaro, however, was removed from the SAF Board after being arrested in an investigation involving Banco Master.

As he will not take part in this new round of investments, his stake in the company will be drastically diluted, falling to something between 4% and 5%.

He will come to be seen as a "ghost" investor in the shareholder structure, an outcome the club internally views as positive given the current scenario.

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

📸 Pedro Vilela - 2025 Getty Images