Open books: Vasco shows use of R$40m in DIP, seeks R$150m | OneFootball

Vasco filed an official petition with the 4th Business Court of Rio de Janeiro in the early hours of Wednesday (19), stating that it has fully used the net R$ 40 million obtained through its first DIP (Debtor-in-Possession) financing deal with asset manager Almirante, owned by businessman Marcos Lamacchia. With proof of the expenditures attached to the case records, the club reinforced its urgent request for the judge overseeing the Judicial Recovery proceedings to authorize a new credit operation worth up to a net R$ 150 million with the same financial partner.

The legal filing submitted by the club meets the legal transparency requirement following the court decision that had made any new borrowing conditional on the submission of the preliminary audit report. In light of the filed accounting report, Vasco’s legal department formally requested that the court acknowledge full compliance with all oversight requirements, keeping the documentation and supporting records under review by the Judicial Administration, the experts (watchdog and gatekeeper), and the Court.

+ DIP loan blocked: Rio court imposes audit condition on Vasco

Use of funds: see the list of payments made by Vasco

In the detailed accounting report submitted to the court, Vasco explained that the R$ 40 million was allocated to contain immediate liabilities, keep operations up to date, and fulfill institutional agreements. The funds covered the following areas:

The need for R$ 150 million for the transfer window and the relegation zone

The push for the swift release of up to R$ 150 million is being treated internally as a vital matter of sporting survival and liquidity for Vasco SAF. The club sits 19th in the Brazilian Championship table and is racing against the closing of the CBF transfer window to make the signings requested by head coach Pedro Emanuel.

Football’s financial planning provides that the largest share of this new amount will be directed toward paying the down installments on the purchase of the economic rights of major reinforcements. Without this authorization, the board will have its investment power curtailed and will be forced to turn to an alternative market, focusing strictly on free agents or loan opportunities with no immediate costs.

Pedrinho talks with director Admar Lopes; the club needs the money to make signings – Photo: CBF

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