Rio judge keeps block on R$150m Vasco loan, audit report demanded | OneFootball

The Rio de Janeiro court has upheld a block on Vasco’s proposed R$ 150 million loan, with judge Simone Gastesi Chevrand requiring an audit report before any new DIP financing is authorised.

According to Globo.com, Vasco appealed the order issued on Tuesday, but the magistrate kept it in place, citing accounting issues that must be clarified before further indebtedness.

The decision also questions the link between the loan and the sale of the SAF, since the R$ 150 million would come from the same group bidding to run Vasco’s football arm, led by businessman Marcos Lamacchia. Including previous loans, liabilities would reach R$ 270 million, which the court said could hinder competition in the process and needs clarification.

A key concern is a mismatch between earlier financial projections presented by Vasco and the figures now used to justify the request. The judge also queried planned investments of about R$ 70 million in August and R$ 18.4 million in September, noting that 84% of the emergency debt cited relates to investments.

She further asked why the Judicial Administration, the watchdog and the gatekeeper had not commented on the sensitive points, ordering all three to respond within 48 hours.

For now, the R$ 150 million remains unavailable. The club considers the cash important to support obligations and to fund football spending during the transfer window.

Source: Globo.com

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