Vasco SAF: Lamacchia’s lawyer reveals sale worth billions

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Papo na Colina

·12 August 2026

Vasco SAF: Lamacchia’s lawyer reveals sale worth billions

The process of selling Vasco’s football operations has seen new operational developments. The bodies responsible for oversight required changes to the contract submitted by investor Marcos Lamacchia. In an exclusive interview with ge, lawyer André Sica confirmed that the adjustments were made, resulting in the signing of an addendum and the resubmission of the case to the Judiciary.

The transaction is undergoing audits by the club, the court, and the CBF, through the National Football Regulation and Sustainability Agency (ANRESF). The administrative and legal structure makes this the most closely monitored process in the national sports ecosystem. The legal representative highlighted the level of oversight over the club:

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“Vasco’s operation is the most publicized operation in Brazil, or perhaps one of the most publicized among all operations ever carried out in the country.”

He continued:

“People complain a lot about judicial reorganization, but sometimes they forget how it works. The court-appointed administrators analyze the entire financial flow. Just to give you an idea of how far this oversight goes: today, Vasco’s signings are reported to the judge. In addition, there are countless professionals and departments involved in the operation, and more than three or four law firms.”

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Technical adjustments and estimated investment in Vasco SAF

The targeted changes meet requests from the court-appointed administrators and the monitoring agent (watchdog). The demands included reducing the break-up fee, a financial penalty imposed on Vasco if Marcos Lamacchia loses the auction. Additional guarantees were also required to cover any possible inconsistency in proving financial capacity during the judicial reorganization.

The revised document spelled out the order of payments and included legal advisory fees in the operational costs of the judicial reorganization. André Sica revealed the projected budget breakdown for the purchase of Vasco:

“The figures could not be clearer. There are R$ 500 million earmarked for football. There are R$ 150 million earmarked for the training center. The forgiveness of R$ 80 million in loan debt. The payment of bankruptcy and non-bankruptcy debts of approximately R$ 1.3 billion. The coverage of the entire cash deficit for the next five years, currently estimated at approximately R$ 300 million per year, which totals R$ 1.5 billion.”

Association rights and court deadlines

The contract provides for one seat for Vasco on the SAF Board of Directors. In addition to the statutory and legal guarantees ensured to associations holding more than a 10% equity stake, the representative indicated that the conclusion of the competitive process is expected by the end of September. The opening of the public notice now depends solely on the signature of the judge in charge of the case.