SAFiel approaches Corinthians again, questions Osmar Stabile's terms | OneFootball

SAFiel, an initiative working to turn Corinthians into a Football Corporation (SAF), spoke out again this Tuesday about the progress of talks with the club. In a new statement, the group said it remains interested in continuing negotiations and is awaiting a decision from the Corinthians board on the next steps.

According to SAFiel, a new contact with Corinthians was made on Monday, just over a week after the project submitted its responses to the questions raised by the black-and-white club’s leadership. As the last official meeting between the parties took place on August 26, the initiative requested an “objective statement on the next steps.”

Photo: Disclosure

The group, however, did not agree with a condition presented by Corinthians president Osmar Stabile. The executive had indicated that negotiations would only move forward again after the debt of Neo Química Arena with Caixa Econômica Federal was paid off. SAFiel would be responsible for making the payment possible.

For the initiative, it would not be appropriate for only one side to take on a financial commitment of that magnitude before a formal agreement exists between the parties.

“An operation of this size needs to be built on reciprocal commitments, legal certainty, institutional approvals, and binding contracts. No responsible solution can require one of the parties to first take on a multibillion-dollar risk only to find out afterward whether there will be an agreement”, SAFiel said.

At the end of August, Osmar Stabile had said he would be willing to sign a binding document if SAFiel presented the funds needed to pay off the Neo Química Arena debt. According to the president, this measure would allow talks on transforming the club to move forward.

On Monday, SAFiel sent a letter to the club president accepting the proposal presented, which specifically involves settling the stadium debt. In the same communication, the project also requested that a new meeting with the Corinthians board be held urgently.

Questions raised by Corinthians

SAFiel’s first major round of responses was sent to Corinthians on August 4. The material covered 108 questions submitted by the club, bringing together inquiries from the board, the presidents of the Deliberative Council (CD), Guidance Council (Cori), and Fiscal Council (CF), as well as questions raised by council members and associates.

In total, the document is 56 pages long and brings together clarifications on different aspects of the proposal presented by SAFiel.

In the statement released this Tuesday, the initiative also assessed Corinthians’ financial situation and once again argued for the need to change the management model.

“Corinthians sees its financial capacity becoming increasingly squeezed. Resources that should be building the future need to sustain the present. Obligations are piling up. The margin for new mistakes is shrinking. Emergency decisions are replacing planning. And each temporary solution pushes an even bigger problem into tomorrow”, the statement adds.

How SAFiel’s proposal works

SAFiel officially presented its proposal to Osmar Stabile on June 2. The project provides for the possibility of raising R$ 2.5 billion, with the potential to reach R$ 3 billion.

According to the proposal, the funds would be directed primarily toward reducing football-related debts, investments in the sporting department, structural improvements, implementation of governance mechanisms, and strengthening the social club.

Another element included is fan participation in the political structure of the future SAF. The model establishes investments starting at R$ 250, as well as participation limits tied to each investor’s CPF.

If it is necessary to supplement the initially projected amount, outside investors could also take part in the operation through non-voting shares.

Preserving the Corinthians identity is another point included in the project. In the event that control of football is transferred to SAFiel, the proposal prevents changes to elements considered fundamental to the club’s identity, such as its name, crest, symbols, and colors.

The project also provides mechanisms for Corinthians to regain control of football management in certain situations. This could happen in the event of failure to meet obligations considered essential, serious management problems, or any eventual distortion of the club’s institutional identity.

Before the operation could eventually be concluded, a series of steps would still need to be completed. These include review and approval by Corinthians’ statutory bodies, an investigation conducted by an independent company, the respective regulatory validations, and, afterward, approval by the members at a General Assembly.

Timeline presented by the initiative

SAFiel also established a timeline for implementing the planned steps. The project would be carried out progressively and would have an estimated duration of approximately one year after the proposal is accepted.

Check out the planned stages:

Read SAFiel’s full statement

AND NOW, CORINTHIANS?

Corinthians has no more time to waste. In recent months, SAFiel has presented a proposal, opened its documents, answered questions, taken part in meetings, provided clarifications, and repeatedly shown its willingness to move forward in a serious, responsible, and institutional manner.

After the meeting held at Parque São Jorge, we formally responded to the questions sent by the Board and the Club’s governance bodies.

Yesterday, we reached out to Corinthians again. We reiterated that we are ready to continue the talks and asked for an objective statement on the next steps.

We also made clear a basic principle of responsibility.

However, president Osmar Stabile imposed on SAFiel that the project must first settle the Arena debt with Caixa Econômica Federal so that only afterward could the contracts establishing the terms of the operation with Corinthians be discussed, negotiated, and signed.

SAFiel cannot accept this condition.

An operation of this size needs to be built on reciprocal commitments, legal certainty, institutional approvals, and binding contracts.

No responsible solution can require one of the parties to first take on a multibillion-dollar risk only to find out afterward whether there will be an agreement.

It’s simple. First, the agreement is built and signed. Then, each party fulfills the obligations undertaken.

SAFiel is ready to move forward.

It is now up to president Osmar to say whether he is willing to move forward on this basis, with simultaneous, formal, and legally binding commitments for both parties.

And in light of that, the bigger question remains: And now, Corinthians?

While decisions are delayed, reality becomes increasingly difficult and time keeps running. And today, time is expensive.

Corinthians sees its financial capacity becoming increasingly squeezed. Resources that should be building the future need to sustain the present. Obligations are piling up. The margin for new mistakes is shrinking. Emergency decisions are replacing planning. And each temporary solution pushes an even bigger problem into tomorrow.

We are not facing a temporary difficulty. We are facing the exhaustion of a model.

That is precisely why Corinthians needs to decide whether it will continue managing consequences or finally confront the causes.

SAFiel is not asking for a blank check. It is asking for dialogue, negotiation, transparency, and commitment.

There is a proposal on the table. There are answers that have been delivered. There is willingness to negotiate. There is an alternative to protect the Social Club, reorganize football, address the debt, and build professional and sustainable management.

What no longer exists is room to simply wait.

Millions of Corinthians fans are following what is happening. The president can delay decisions. Time cannot.

AND NOW, CORINTHIANS?

The future demands an answer now.

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