Sale of building rights could net Vasco R$500 million, check it out | OneFootball

Vasco has taken another important step towards the modernization of São Januário. SOD Capital, the investment management firm, has confirmed to the club that it will exercise its intention to purchase the construction potential of the stadium’s land. The deal, which could exceed R$ 500 million, is considered fundamental by Pedrinho’s board to make the renovation of Colina viable.

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São Januário renovation project, Vasco’s stadium — Photo: Project by Sergio Moreira Dias, Felipe Nicolau, Willian Freixo, Clarissa Pereira, and Ana Carolina Dias

The club has two signed sales options: one for 250,000 m² with SOD Capital itself and another for 30,000 m² with another company, totaling 280,000 m². With each square meter valued at around R$ 2,000, Vasco would be guaranteed to receive the full amount expected since the beginning of negotiations.

The board is now only waiting for the release of the Transfer of Construction Potential Agreement from the Rio City Hall. This document is necessary for the club to move forward with the final contractual conditions and sign the definitive sale. The process is being carried out in partnership with Genial Bank, responsible for organizing the financial and legal aspects of the operation.

Optimism is high at São Januário. The expectation is that the SPE (Special Purpose Entity) will be formalized soon, allowing the transaction to be completed. In addition, Vasco is in talks with potential commercial partners for the new stadium, including businessman Roberto Medina, creator of Rock in Rio.

What does construction potential mean?

Construction potential determines how much can be built on a piece of land, according to the city’s master plan regulations. Since São Januário does not use its entire permitted limit, Vasco can transfer this “excess” to other locations through the so-called Transfer of Construction Rights (TDC).

In practice, this operation turns unused space into immediate revenue, allowing the club to invest in the modernization of its home.

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Photo: Publicity.

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