Marcelo Teixeira accepts non-binding approach as Santos open SAF talks with Saint Dominique | OneFootball

Santos president Marcelo Teixeira has accepted a non-binding approach from the US-based Saint Dominique group and granted SDC Sports LLC exclusivity to explore a possible SAF investment, the club said in a statement.

This is not approval to sell. Saint Dominique will run due diligence for 60 to 90 days, and Santos will also assess the investor’s capacity and background.

Indicative terms are R$ one billion fresh capital plus assumption of debt near R$ one billion for 80% control. A binding offer may follow only after diligence.

Any binding sale would require statute changes in the Conselho Deliberativo and then a General Assembly of Members to lift the block on majority sale, a slow process.

A non-binding proposal commits neither side, but exclusivity means Santos cannot negotiate with others during this period.

Talks focus on strengthening operations, improving on-pitch performance, boosting the brand and accelerating first-team and academy development. XP Investimentos and Rothschild & Co are the financial advisers.

Saint Dominique is a US private fund backed by the Santo Domingo family fortune, one founder is Lauren Santo Domingo. The family controls Grupo Valorem, which controls TV Caracol in Colombia, holds AB InBev shares and 10% of the Washington Commanders, but denies involvement.

Draft terms include vetoes on changes to name, anthem, core colours and location. Colombian representatives are expected in Brazil in the coming months to inspect facilities.

Source: Globo.com