Papo na Colina
·8 October 2025
Flamengo chief questions Crefisa-Vasco deal, hints at SAF buyout

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Yahoo sportsPapo na Colina
·8 October 2025
The complex loan operation between Vasco da Gama and Crefisa has become the target of a direct attack from one of its biggest rivals. The president of Flamengo, Luiz Eduardo Baptista (Bap), questioned the nature of the agreement. In a meeting of his Deliberative Council, the leader raised suspicions about the guarantees offered by Cruz-Maltino and suggested that there is a “clear agenda” behind the deal.
Bap's attack was a response to criticism he had been receiving from Leila Pereira, president of Palmeiras and owner of Crefisa. The Flamengo leader questioned the logic of the R$ 80 million loan, which is guaranteed by 20% of Vasco's SAF shares. He stated:
“And I have no doubt that there is a very clear agenda. Folks, we're talking about this Libra problem and the company she presides over lent money to Vasco's SAF. Who here has ever borrowed money from a financial institution in their life? Does any bank ask for shares of your struggling business as collateral, or do they ask for real assets? I want your house, I want your boat, I want your apartment, I want your farm.”
Luiz Eduardo Baptista went further and compared Vasco's financial engineering to that which resulted in the sale of Atlético-MG's SAF. He recalled that, in the Minas Gerais case, the creditors (Menin family, from MRV) ended up executing the debts and becoming owners of the club.
“Who asks for 19-something percent of SAF shares if they can't be paid? It seems I heard that the last time this happened in Brazil, the Menins bought Atlético, created a necessary debt, and eventually executed it. So, I find this kind of thing absolutely strange,” he stated.
The rival president's insinuation is that the loan would be a Trojan horse for Crefisa to take control of Vasco in the future. He concluded his speech with a direct provocation to Leila Pereira:
“I think Caesar's wife doesn't just have to be honest, she has to appear honest too.”
The statement adds another element of controversy and rivalry to the already complex financial restructuring of Cruz-Maltino.
Pedrinho and Leila Pereira have a great relationship – Photo: Instagram Reproduction
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This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.