SDC Sports say binding Santos SAF offer depends on statute change | OneFootball

SDC Sports told Santos’ Deliberative Council it will only table a binding offer for the club’s SAF once a statute change is finalised. According to Globo.com, the three partners met councillors at Vila Belmiro on Monday night.

The firm set out the timeline of talks and next steps, and now awaits the Council’s moves. It wants to steer clear of club politics, so any final document would come only when a majority sale is permitted.

Partners Diego Garcia and Michael Lipman were introduced as leads for business and management. Jesse Fioranelli was presented as the proposed head of football if the deal is completed.

He highlighted fluency in five languages and experience with Roma, Milan, Lazio, Al Nassr and San Jose Earthquakes. In SDC’s plan he would oversee Santos’ professional football. Fund analyst Can Keles attended but did not sit at the table.

Representatives of XP Investimentos, advising Santos since May last year, and Rothschild, which advises SDC, were also present. Three weeks ago Santos signed a term sheet with the US company. A five month due diligence followed on both sides with positive findings.

In February an outline envisaged R$ 1 billion for football and R$ 1 billion to pay debts in exchange for 80 percent control, though those figures were not shown to councillors. The statute reform has no set date and current rules bar a majority sale, so the SAF process cannot advance. Approvals still required make the timeline unlikely to be concluded this year.

Source: Globo.com

“Artificial intelligence was used to assist in creating this article based on reporting from the original source quoted.”