Corinthians president outlines SAFiel talks and procedural steps | OneFootball

Corinthians’ leadership met SAFiel representatives at Parque São Jorge for around four hours on Wednesday night to discuss plans to convert the club into a Sociedade Anônima do Futebol.

President Osmar Stabile said the talks were to clear up directors’ doubts and connect the organisers with the club’s oversight bodies. “We asked them several questions. Financing concerns me, and how the Corinthians president should act in such a case. We must always think about legality, so it has to go through all the bodies. It takes time, but that is the rite,” he said on Metrópoles Esporte’s 90 Minutos.

The club’s Statute has no specific regulation for becoming a SAF, so any operation would be assessed under existing rules, particularly the club’s legal nature, assets and required approvals by the Conselho de Orientação, Conselho Fiscal, Conselho Deliberativo and the membership.

Given Corinthians’ non-profit status and asset protections, any proposal would demand financial, legal and corporate due diligence, including the investor’s identity, funding source and capacity, track record, guarantees, the size and term of any investment and the consideration involved. It would also need to define whether a commercial partnership, a stake in a football company such as SAFiel, or the formation of a SAF is envisaged, and which brands, properties, rights or other assets would be used.

As the SAFiel plan involves transferring football assets, including men’s, women’s and academy operations, players’ rights, contracts, football brands and management of liabilities, the Statute requires approval by two thirds of the Conselho Deliberativo. The club would first map which bodies must sign off each stage.

After the meeting, founders Eduardo Salusse and Carlos Teixeira said the aim was not to sign the recent non-binding offer but to address questions, adding there was a clearing of the air and reduced resistance.

Attendees included Stabile, CD president Romeu Tuma Júnior, Cori president Miguel Marques, CF president Haroldo Dantas, other directors and members of the SAFiel monitoring committee, the CAS.

Within up to 10 days, SAFiel will submit written answers to all points raised, after which the club will analyse them and decide the next steps.

Source: Meu Timao

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