Breaking: São Paulo board backs Ticketmaster deal, R$140m for Massis | OneFootball

São Paulo’s Deliberative Council approved, on Wednesday afternoon (30), the partnership and ticketing operations contract with Ticketmaster. In a vote concluded at 5 p.m. (Brasília time), the proposal from president Harry Massis Júnior’s administration was approved by a wide majority, with 184 votes in favor, 44 against, and just one abstention.

The approval represents immediate financial relief for the club’s board, making possible an upfront injection of R$ 140 million (R$ 110 million as an advance on ticketing/membership revenues and R$ 30 million paid immediately for the five-year concession of box 29A at Morumbi).

With the Council’s approval, São Paulo will trigger the advance-payment mechanism предусмотренный in the contract to receive the first installment within seven days. The board’s goal is to speed up the process so that the money reaches the club’s accounts by this Friday (10/2), allowing the immediate payment of September salaries and overdue image rights owed to the squad before the derby against Santos at Morumbi in the Brazilian Championship.

The outcome of the vote also confirms the terms negotiated in the final stretch of the process, which secured a reduction in the termination penalty of the contract with Ticketmaster from R$ 25 million to R$ 14 million, in addition to providing legal backing for ending the agreement with Feng, the current membership-program operator.

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