Corinthians vice-president strikes cautious note after first meeting with SAFiel | OneFootball

Corinthians vice-president Armando Mendonça adopted a cautious tone after the first meeting with SAFiel at Parque São Jorge on Wednesday, saying the discussion set out the board’s legal doubts. He said the club will send formal questions before any decision by the president.

According to Meu Timao, SAFiel proposes turning the football department into a Sociedade Anônima do Futebol with fan ownership, aiming to raise R$ 2.5 billion to R$ 3 billion. Contributions would start at R$ 250 per person, with caps and scope for non-voting external capital if needed.

Mendonça urged care with public messaging amid the financial crisis, warning that inflated promises can mislead supporters into expecting a simple fix. He added that demonising the club or backers could hinder fundraising, so all sides must act responsibly.

He cautioned against signing a non-binding document now, noting that such papers can still include obligations like confidentiality and exclusivity. The club, he said, must first clarify every legal and administrative point.

On mooted upfront injections to settle operational and stadium debts, he said the draft offers no guarantee of payment. That uncertainty demands contractual caution and the resolution of doubts before any signature.

The model bars changes to the name, symbols, colours and crest, and contains a safeguard allowing Corinthians to reclaim football operations in cases such as mismanagement. For the plan to advance, it still needs internal approvals, an independent audit, regulatory clearances and a members’ vote, with a timetable of about one year.

Source: Meu Timao

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