Santos SAF bidders say they are ready as councillors leave with unanswered questions | OneFootball

A presentation by SDC Sports to Santos councillors ended with key funding questions left unanswered under the proposed SAF.

According to Globo.com, cofounder Diego Garcia, partner Michael Lipman and Jesse Fioranelli attended Monday night's meeting, where confidentiality clauses were cited to avoid financial details.

Fioranelli said the group is ready and would become football executive if a deal is completed. The visitors left satisfied with the session. The company was selected to submit a proposal after surpassing 62 interested parties, councillors were told.

SDC is proceeding cautiously, mindful of club elections this season and a likely split. It told the room its plans are independent of the politics, reflecting the internal steps needed to form a SAF.

SDC wants to acquire 80% of Santos' football, but the statute currently caps any sale at 49%. Councillors estimate the process could take about six months, potentially concluding under a new administration.

President Marcelo Teixeira has asked the Council to mobilise for statutory change to align the internal rules. He has not said whether he will seek re-election.

Councillors left Vila Belmiro unsure about the proposed R$ one billion for football and a further R$ one billion to cover debts. Three weeks ago Santos signed a term sheet with the US company setting conditions for talks to progress.

Even on Monday the SDC partners did not discuss finances, again citing confidentiality. The full plan would be presented only if the statute change advances, which would enable a purchase of 80%.

Source: Globo.com

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