‘Faked accounts’ and ‘suspicious payment’: Vasco SAF sale report

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Papo na Colina

·24 October 2025

‘Faked accounts’ and ‘suspicious payment’: Vasco SAF sale report

The preliminary report from the committee of advisors investigating the sale of 70% of Vasco da Gama SAF to 777 Partners has brought explosive conclusions. The document, delivered on October 6, indicts 21 people for possible irregularities and points to a “suspicious payment,” a “forged balance sheet,” and even the existence of “hidden partners” in the deal.

+ Vasco's 'final move': What the club will do to speed up the end of the fight with 777 Partners?

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The ‘Central Core’ and the “grand theater”

The committee concluded that a “Central Decision-Making Core,” formed by former president Jorge Salgado and his main VPs, “orchestrated” the sale as a “grand theater to deceive members.” All members of this core were indicted, including the current VP of Finance of the Pedrinho administration, Silvio Almeida, who at the time was part of the committee that approved the sale.

Jorge Salgado was the president who sold Vasco da Gama – Photo: Lance!

Accusation of “forged balance sheet” of R$ 200 million

One of the most serious accusations is that the club's balance sheet was forged to hide debts. A former employee stated in testimony that the former VP of Finance, Adriano Mendes, “used the Excel tool to ‘reduce’ debts.” The report concludes that the sale swept under the rug a concealed debt of more than R$ 200 million, which put the associative club in a “bankrupt stage.”

Suspicious payment and conflict of interest

The investigation also found a suspicious payment of R$ 775,000 to a company in Blumenau (MJ Capital LTDA). The company was created 34 days before the contract was signed and closed seven months later, with no evidence of having provided any service to Vasco.

The report harshly criticizes the conflict of interest in appointing Luiz Mello, then CEO of the club (CRVG), as CEO of the SAF (buyer). The committee states that the board treated the biggest negotiation in Vasco's history “with total negligence, lack of care, and a clear dose of partiality.”

The 21 indicted individuals will have 15 business days to present their defenses before the final report, which could lead to the exclusion of those involved from the club's social framework.