SAFiel 2.1 adds safeguards as costs and rival models assessed at Corinthians | OneFootball

SAFiel, launched on 28 October 2025, is being updated to version 2.1 to reflect legal changes and supporter input as Corinthians explores a transition to a football joint-stock company.

According to Meu Timao, Eduardo Salusse said the public 2.0 draft did not capture alterations to SAF legislation made weeks later, although the team had mapped them internally.

Feedback via forms highlighted omissions, notably the risk of major creditors converting debt into shares without limits, potentially diluting participatory control.

The organisers say 2.1 introduces caps and checks. They include a maximum 2% stake per person for any investor, scope to issue non-voting preference shares where appropriate, and member approval for such operations, alongside more than 60 other refinements.

Co-creator Carlos Teixeira described the changes as polish rather than structural shifts, praising the volume of constructive questions that helped sharpen the text.

He noted that progress requires costly independent audits after any initial memorandum, with Big Four due diligence the largest expense. He added that owner-led SAF proposals are already before the board despite denials, arguing open comparison between formats is necessary.

With 2.1 set for a fuller public release, the group reiterated faith in a democratic model and said they would support any superior proposal for Corinthians if one appears.

Source: Meu Timao

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