Vasco asks court to receive R$ 40 million loan from company of Marcos Lamacchia | OneFootball

Vasco asked the Rio de Janeiro court on Saturday to approve a R$ 40 million DIP loan, a facility for companies under judicial recovery, from Almirante S/A, the company of Marcos Lamacchia, who is in advanced talks to take control of the club’s SAF, according to Globo.com.

If approved, the money would be disbursed in a single instalment with no interest. It would be deducted from the total capital Lamacchia would inject should he assume the SAF, taking his overall investment beyond R$ 3 billion.

The filing sets out a specific settlement mechanism if Almirante wins the competitive process for the sale of the UPI. In that case, the DIP outlay could be offset against the previously agreed investment, bringing forward part of the SAF capitalisation to the point it is most needed to preserve activities.

Vasco say the funds would protect day-to-day operations, including payments under its judicial recovery and support for cash flow.

Release of the money depends solely on court approval, with no vote required from members or councillors.

In October last year, the club took a R$ 80 million DIP loan from Crefisa, owned by Leila Pereira. Those sums would be converted into equity in the new SAF if Lamacchia becomes the football investor, otherwise the club would have to repay the company.

Source: Globo.com