Grêmio map urgent cash drive as CEO says club is in a coma | OneFootball

According to Globo.com, Grêmio’s new board has begun raising funds to ease a severe cash squeeze, with the sale of Alysson to Aston Villa among the first steps. Newly appointed CEO Alex Leitão described the club as being in a coma and said restoring liquidity is the immediate priority.

Presented on Wednesday, Leitão said that within his first 48 hours the focus is on cash flow so short-term debts that could damage the club can be prioritised. He likened any recovery to moving from a coma to life support, and cautioned it will take time.

He found gaps to fill, including the lack of a main shirt sponsor, stadium naming rights and a ticketing partner. Former president Alberto Guerra said a R$ 53 million per year shirt deal from a betting company was sent to Odorico Roman, and Leitão noted proposals are under review without committing to any.

Roman added that a structured investment fund is in place to offer cheaper capital and could be opened to members and supporters early next year. Leitão also cited an FIDC as a route to swap costly short-term liabilities for cheaper debt and strengthen cash flow.

The immediate pressure includes a transfer ban imposed in November over an unpaid balance of about R$ 7 million to Granada for Arezo. A further transfer ban could follow over €150,000 owed to River Plate-URU linked to the Arezo loan to Peñarol, due by December.

Leitão said he meets daily with the finance chief to protect the cash position and avoid wasteful spending. He is coordinating with vice-president of football Antonio Dutra Junior, noting on-pitch performance directly affects revenues, particularly the TV rights share.

Source: Globo.com