Closer to approval: Vasco board votes on Almirante bid, 90% SAF stake

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·29 September 2026

Closer to approval: Vasco board votes on Almirante bid, 90% SAF stake

Vasco has taken another decisive step toward completing the corporate transition of its football operations and has called the Deliberative Council for an extraordinary session on October 6. The meeting was made official by the body’s president, João Riche, following a request from the Administrative Board led by Pedrinho, with the goal of reviewing the terms of the sale of Vasco SAF to Almirante Participações, a company owned by investor Marcos Lamacchia, as well as adjusting the club’s bylaws at São Januário.

The meeting will begin at 7 p.m. in a hybrid format, with in-person discussions taking place at the Sede Náutica da Lagoa and virtual participation available for registered council members. The electronic vote will have technical support from the technology department to ensure full confidentiality and legal validity, paving the way for the sale of 90% of the company’s shares to be detailed and debated point by point by the members’ representatives.

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?Change to the bylaws and Vasco’s rights

For the transaction to be legally validated, Vasco’s board included on the agenda a targeted reform of the bylaws to adjust the guidelines at São Januário. The current rules require the members’ club to retain at least 20% of the company’s shares, but the proposal on the table lowers that minimum requirement to 10%, while ensuring ownership of Class A common shares with veto power over key institutional decisions, as established by national legislation.

Before the final vote in the plenary session, the full documentation was sent to the Council of Benefactors, which will have seven calendar days to issue an advisory report on the financial and contractual terms. The Fiscal Council has also been granted access to the contracts to review the guarantees deposited and the budget flows, ensuring complete transparency in all preparatory procedures for the meeting.

?Opinion of the benefactors and general assembly

If the majority of council members approve the draft and the change to the corporate rule, Vasco’s sale process will move on to its final stage within São Januário. It will then be up to the members gathered in an Extraordinary General Assembly (AGE) to make the final decision through a direct vote, ratifying the transfer of control of the football department to the new management after all internal procedures have been completed.

With the R$27 million guarantee already deposited in court and the governance agreements tied up, the project enters a decisive week to safeguard the football department’s finances. Internally, expectations are that the R$2 billion package announced by the new investor group will receive broad backing from the club’s political ranks, speeding up planning for next season and bringing lasting stability behind the scenes.