Lamacchia lawyer outlines billion-real Vasco SAF deal after contract changes | OneFootball

Vasco's football sale has moved forward after oversight bodies ordered changes to Marcos Lamacchia's contract, leading to an addendum and a new court filing.

The club, the court and the CBF via ANRESF are auditing the deal. "Vasco's operation is the most publicised in Brazil, or among the most publicised in the country," he said, speaking to ge.

"People complain a lot about judicial recovery, but sometimes forget how it works. Judicial administrators review every cashflow, and even Vasco's signings go to the judge, with numerous professionals and departments involved and more than three or four law firms."

Interventions met requests from judicial administrators and the watchdog, including reducing the break-up fee if Lamacchia loses the auction and adding guarantees against any gap in proof of funds. The revised document set the payment order and added legal advisory fees to recovery costs.

"The figures are clear: R$ 500 million for football, R$ 150 million for the training centre, R$ 80 million in loan debt forgiven, concursal and extra-concursal debts of about R$ 1.3 billion paid, and five years of cash deficits covered, today about R$ 300 million per year, totalling R$ 1.5 billion."

The contract gives Vasco a seat on the SAF board and keeps statutory safeguards for associations with more than 10% of shares. The process is forecast to conclude by the end of September, with the tender opening dependent only on the judge's signature.

Source: PaponaColina

“Artificial intelligence was used to assist in creating this article based on reporting from the original source quoted.”