Vasco ends SOD Capital deal, opens São Januário redevelopment bids | OneFootball

Friday (13th) marks a new chapter for Vasco in the saga of the São Januário renovation. As of today, the company SOD Capital no longer holds the preference and exclusivity for the purchase of the stadium’s construction potential. Due to the lack of progress in the deal, the CRVG board has decided to open up competition to the market to receive proposals from other companies interested in the operation, with estimated values exceeding R$ 500 million.

The exclusivity agreement with the insurance company was signed in the middle of last year, aiming to use the potential on land in Barra da Tijuca. Since then, the company requested and obtained an extension of the deadline three times, but did not move forward to formalize the purchase. The move to open up to the market was already expected internally and was anticipated last week, when president Pedrinho met with Eduardo Paes, mayor of Rio de Janeiro, and representatives from other companies to present the project.

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Delay in the schedule and increased budget

The urgency in closing the sale is due to the construction schedule, which is already delayed. According to the original plan, the stadium’s revitalization should be starting at the beginning of 2026, with reopening scheduled for the following year. Since the renovation depends entirely on the resources from the construction potential, the project remains stuck on paper. The situation is worrying for the city hall, as it involves an operation of public urban interest.

Another point of concern is the financial update of the project. The club is now working with an estimated budget of R$ 800 million to ensure the sustainability of the work. The jump compared to the initial estimate (R$ 500 million) is due to the adjustment of construction costs in recent years.

Vasco-Botafogo partnership on hold

While the financial issue remains unresolved, logistical planning is also on hold. Vasco’s board even reached an agreement with Botafogo to host its games at Estádio Nilton Santos during the closure of Colina, but without a set date for the start of the renovations, the deal remains without an effective start date.

To balance the new budget, Vasco is mainly betting on the sale of the new arena’s naming rights, without ruling out other sources of revenue.

São Januário renovation project, Vasco’s stadium — Photo: Project by Sergio Moreira Dias, Felipe Nicolau, Willian Freixo, Clarissa Pereira, and Ana Carolina Dias

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