Vasco and 777 Partners strike historic deal, 90% SAF sale cleared

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Papo na Colina

·3 September 2026

Vasco and 777 Partners strike historic deal, 90% SAF sale cleared

In one of the most anticipated and decisive developments in the recent history of São Januário, Club de Regatas Vasco da Gama, Vasco SAF, and 777 Carioca LLC filed a joint petition informing the courts that they had reached a definitive agreement in the arbitration proceeding taking place at the FGV Mediation and Arbitration Chamber. With the parties having reached a consensus, the American company formally declared that it does not oppose the sale and transfer process of 90% of the shares of the new SAF.

The official filing immediately puts an end to the legal dispute that had been holding up the financial restructuring of Vasco’s football operations in the judicial reorganization process. As a direct consequence of the amicable settlement, the American group committed to withdrawing all lawsuits, appeals, and objections that had been filed against the plans led by president Pedrinho.

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The official document of the agreement between Vasco and 777

The joint filing attached to the case details the points of the historic consensus reached between the institutions:

“1. The parties inform that they have reached an agreement within the scope of the arbitration proceeding (Arbitration Proceeding No. 10/2024, FGV Mediation and Arbitration Chamber), and the disputes existing between the parties have been resolved by mutual agreement.”

“2. As a result of the settlement reached, 777 Carioca LLC expressly declares that it does not oppose: (i) the terms of the Judicial Reorganization Plan; (ii) the creation of a new football corporation, through the transfer of Vasco SAF’s sporting assets by means of a dropdown transaction (‘New SAF’); (iii) the creation of an Isolated Productive Unit for the purpose of judicial sale of 90% of the shares issued by the New SAF (‘UPI Equity’); (iv) the carrying out and completion of the competitive process for the sale of the UPI Equity; and (v) the transfer of the shares representing 90% of the New SAF’s share capital to the winner of the competitive process.”

“3. As a result of the consensus reached between the parties, the petition filed by 777 Carioca LLC on 08/21/2026 (Id. 302611406) is rendered moot.”

“4. Finally, the parties inform that, subsequent to this act, 777 Carioca LLC will file the withdrawal of the incidents related to this judicial reorganization and of the appeals it has filed, as well as of the claims made therein, and also the waiver of the right on which they are based.”

What does the agreement mean for Vasco fans?

In practical terms, Vasco fans can celebrate the end of a huge legal uncertainty that had been scaring away investors. 777 agreed to give up any rights over the club’s football operations and accepted the maneuver called a dropdown, which consists of transferring player contracts, broadcasting rights, and competition spots to a new company completely free of liens.

Agreement on the creation of the so-called Isolated Productive Unit (UPI Equity) is the step that allows the Giant of the Hill to auction off 90% of its football operations under the protection of the Bankruptcy Law, ensuring that the new buyer, such as the Marcos Lamacchia group, acquires the shares without inheriting past debts and without the risk of lawsuits brought by the former American owners.

Deadline extension for oversight bodies

Despite the political and legal clearance granted by the former controllers, the process of final approval of the sale will have a small calendar adjustment at the request of the overseers appointed by the Rio de Janeiro courts.

The Judicial Administration, the independent monitor (Watchdog), and the governance guarantor (Gatekeeper) requested an extension until next Friday (4) to submit the unified report on risks, solutions, and alternatives for the sale transaction, a deadline that was set to expire this Wednesday and comes before the definitive decision on Vasco’s future.