SJ renovation: Vasco hit with terrible news, works could be delayed again | OneFootball

The long-awaited renovation of São Januário, Vasco's stadium, remains undefined and may face a new postponement. A month after the final deadline for SOD Capital to exercise the intention to purchase the stadium's construction potential, the operation has not yet been completed — a scenario that directly compromises the start of the works.

The management had indicated a payment of more than R$ 500 million, an amount considered essential for Vasco to finance a significant part of the revitalization of its home. The club even extended the negotiation deadline to December 12, but even so, the sale did not progress. Internally, the board still prioritized SOD, justifying the delay due to the typical complexities of the real estate market.

Without the completion of the sale, Vasco remains unable to proceed with the works, as the negotiation of the construction potential is considered a fundamental step of the project.

+ Vasco scours the market and signs Paulinho from América

São Januário, Vasco's stadium — Photo: Daniel RAMALHO/VASCO

Cost of the work increases and start remains unscheduled

Vasco is currently working with an estimate of R$ 800 million to make the renovation of São Januário viable and sustainable. The amount represents a considerable increase compared to the initial project, which estimated around R$ 500 million.

According to investigations, the budget increase is mainly due to the correction of construction costs over the past years, as the original project was developed a long time ago. Besides the sale of the construction potential, the club is betting on the commercialization of the stadium's naming rights as the main source of additional revenue, although other fundraising alternatives are also being analyzed.

Given this scenario, the board already considered it unlikely that the works would start in the first half of 2026 and, so far, there is no new defined date for the beginning of the revitalization.

City Hall steps in and construction potential returns to the market

Without an agreement with SOD Capital and with the purchase promise nearing its end, Vasco began to seek new interested companies. This Wednesday (4), the club gained an important ally: the City Hall of Rio de Janeiro.

Mayor Eduardo Paes called a meeting with major companies in the real estate sector to try to unlock the process. The meeting was attended by Vasco's president, Pedrinho, Deputy Mayor Eduardo Cavaliere, Councilman Pedro Duarte (PSD-RJ) — representative of the Chamber in the Reform Advisory Council —, as well as municipal secretaries and construction companies.

According to Pedro Duarte, the currently signed purchase promise expires on February 12 and the company will not exercise the right. Thus, the construction potential will officially return to the market.

— The mayor invited several large and serious companies, capable of handling this project. They heard directly that there will be legal security and speed. The companies showed a lot of interest, including some that were already in negotiation and can now advance — stated the councilman.

The city hall assured that the operation is treated as a priority for the city, a factor that excited the businessmen present at the meeting.

+ Study points Vasco as the worst among the “12 greats” in the 21st Century Brasileirão ranking

Renovation project of São Januário, Vasco's stadium — Photo: Project: Sergio Moreira Dias, Felipe Nicolau, Willian Freixo, Clarissa Pereira and Ana Carolina Dias

Understand what São Januário's construction potential is

The construction potential represents the right to build beyond the allowed limit on a plot, respecting the city's master plan. In the case of São Januário, the land has a high construction capacity, but it is not fully utilized by a stadium.

The operation foresees that this “surplus” can be transferred to other areas of the city, especially in Barra da Tijuca, where the purchasing company can use it in new developments. The negotiation depends on city hall authorization and is considered a key piece to financially enable the renovation.

With the direct involvement of the mayor and the return of the construction potential to the market after February 12, Vasco hopes to unlock a process that has been dragging on for months and finally take a concrete step towards the modernization of São Januário.

+ Follow Papo na Colina's social networks: Thread, Bluesky, Twitter, Facebook, Instagram, Youtube, Tiktok and Google News.

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