Fluminense president details SAF plan, demands debt paid in full | OneFootball

Mattheus Montenegro explained the burden of interest on the club’s finances, revealed that the investor will have to take on 100% of the debts, and guaranteed full disclosure of the contracts to the Deliberative Council.

Fluminense’s transformation into a Football Corporation (SAF) has been shaping up as one of the main strengths — if not the main one — of the current administration in order to balance the club’s liabilities without giving up a strong squad. During his appearance on the Setor Sul Podcast, president Mattheus Montenegro broke down the club’s financial situation and revealed the next steps in the negotiations, making institutional transparency a non-negotiable condition.

The club president explained the evolution of the club’s debt, which went from approximately R$ 860 million (considering liabilities originating before 2019) to around R$ 1 billion by the end of 2025. However, Montenegro highlighted one mitigating factor: about R$ 250 million of the current amount refers to the acquisition of players’ rights. “That part involving player purchases is a ‘good’ debt, because it is an asset the club comes to have,” he said.

The major day-to-day obstacle pointed out by the administration is the burden of interest. With the Selic rate close to 15% per year, the adjusted debts generate an impact of nearly R$ 100 million annually just to break even. “The challenge is to have a strong team and pay off the debt at the same time. I could sell several key players right now, raise millions, and cut the debt in half, but our technical level would plummet,” the president explained.

Disclosure of documents and governance rules

To ensure the fans’ trust and avoid the legal disputes seen in other SAFs in Rio de Janeiro, Fluminense promises an unprecedented approval process.

“We are going to present the Investment Agreement and the Shareholders’ Agreement to the Deliberative Council. Everyone will be able to discuss the proposal not based on what I say, but on the written document,” Mattheus assured. The central premise imposed by the club at the negotiating table is that the investor must mandatorily assume 100% of the association’s debt.

In addition, the president reassured the fans about the club’s future control by confirming protective clauses. One of them prevents SAF shares from being resold to individuals or funds that have already participated, directly or indirectly, in the management of other clubs in Brazilian football. Parallel projects, such as the development potential initiative led by Ricardo Tenório, will continue moving forward to generate additional revenue for the association.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.