Marcos Lamacchia firm named stalking horse in Vasco SAF sale | OneFootball

Almirante Participações e Empreendimentos S.A., the company of Marcos Lamacchia, has been designated as Vasco’s stalking horse bidder for the planned sale of the club’s new SAF.

According to Globo.com, the role is common in deals involving companies in judicial recovery, and it sets a benchmark for all competing offers. Vasco must, by law, run a competitive process for control of the SAF in court.

As stalking horse, Almirante can table the first bid, setting a reference valuation and holding the right to match any rival proposal received in the coming weeks. The deadline to conclude the process is 30 September.

The offer is a minimum R$ 650 million package, to be split between squad reinforcements, a training centre for the first team and improvements in the academy, alongside assuming the club’s debts for at least 10 years.

The tender also states Vasco would owe R$ 50 million to Lamacchia if control of football is negotiated with another company.

In October last year, Vasco received R$ 82 million from Crefisa, a DIP loan intended for companies in judicial recovery. If Lamacchia takes over the SAF, that amount will be converted into equity in the new entity.

If Lamacchia is not the investor, Vasco must repay the amount in full to the businessman or to Crefisa.

Source: Globo.com