Bank tempts Libra clubs, São Paulo may take million-pound deal to clear debts | OneFootball

São Paulo might secure an unexpected sum to try to reduce its financial deficit built up over recent years, especially under Casares' management. The club received a tempting proposal from Banco Daycoval to advance part of the broadcasting rights for the Brazilian Championship.

The proposal was made not only to Tricolor but also to all clubs that are members of Libra. According to Estadão on Tuesday (3), the bank's executive is now awaiting responses from the officials responsible for the million-dollar offer.

The proposal offered is an advance of 5% of the television-linked revenues for a period of 15 years, made to Bahia, Flamengo, Grêmio, Palmeiras, Bragantino, Remo, Santos, and Vitória, in addition to, of course, São Paulo. The amount could exceed R$ 100 million for each club.

HOW WOULD THE DEAL WORK?

The bank proposes a purely financial operation, where the clubs would receive the money now and return it to the financial institution over the years, based on the amounts they will receive from Rede Globo and other possible broadcasters for airing.

This is a different proposal from others that Libra has negotiated, particularly the final offer from Mubadala, which had attempted to buy a percentage of the revenues for a period of 50 years.

On that occasion, the Emirati fund would participate in the management of the future club league and would have rights to a series of commercial properties, as reported by Estadão.

The deal, however, does not please everyone involved. While São Paulo, Santos, and Grêmio, in more severe financial situations, are much more inclined to accept the advanced money, Bahia, Bragantino, Flamengo, and Palmeiras, being more structured, do not need the money and will be harder to convince.

However, this should not hinder the negotiation, as the advance from Daycoval does not require the consent of all Libra members to be finalized. Thus, it is possible that São Paulo takes the amount now, while other clubs refuse it.

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