Sale of Vasco SAF requires Deliberative Council approval | OneFootball

The negotiations for the sale of Vasco SAF shares to the group led by businessman Marcos Lamacchia involve strict bureaucratic procedures that go far beyond the financial figures. According to information from the NT Vascaínos profile, behind the scenes at São Januário there is intense debate over the need to submit the deal to the Deliberative Council. Regardless of whether the final percentage of the sale is set at 70%, 80%, or 90% of the assets, the club’s bylaws state that any transfer of control requires advisory opinions from the Council of Distinguished Members and the Fiscal Council before it can become reality.

Because it involves handing over control of the football department to a new investor, the legal transaction necessarily depends on approval by the Deliberative Council, requiring a qualified quorum of two-thirds of the votes of the attending council members. The institutional rules require a thorough review of the buyer’s credit, reputation, and integrity. In this way, the authorization for share dilution granted in the past to the former partner does not serve as a permanent blank check for new buyers, making compliance with the approval process mandatory.

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Alternative through an assembly and simple majority

If the council members try to block the progress of the corporate negotiations, the administrative board has a legal alternative provided for in the club’s rules to protect the institution’s financial future. If the project is rejected in the plenary session or fails to reach a decision after three consecutive voting attempts, president Pedrinho may send the proposal for the sale of Vasco SAF directly to the statutory members through an Extraordinary General Assembly.

The calling of this members’ assembly will depend on the president of the General Assembly, Alan Belaciano. The great advantage of this alternative route for the management is the much more accessible voting quorum compared to the one required in the council, needing only a simple majority — half plus one of the votes of those present — to validate the deal. This flexibility prevents the political committee from shelving the modernization of Vasco’s football operations.

Pedrinho and Alan Belaciano – Photo: Dikran Sahagian/ CRVG

Risks of legal challenges and compliance with the rules

The board is proceeding cautiously to avoid loopholes that could result in investments being halted through injunctions in the ordinary courts. If the leadership tries to sign the final share sale contract without calling the council members to debate and deliberate on the matter, the club’s legal department considers the risk of legal challenges to the sale of Vasco SAF extremely high.

The central discussion behind the scenes is not limited to the percentage of shares that will be transferred to the new owner, but rather to the strict compliance with all procedures required by the internal rules. Respect for technical opinions and voting procedures is what will guarantee the legal certainty needed for the buyer to invest financial resources into professional football throughout the second half of 2026.

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