Why Grêmio’s old Olímpico is still standing | OneFootball

The key swap between the old Estádio Olímpico and the Arena do Grêmio has no set date, with talks involving OAS 26 and Karagounis still unresolved. The board briefed the club’s Conselho Deliberativo last week.

According to Globo.com, Grêmio says it is ready to execute the property exchange, which was part of the original Arena deal. With businessman Marcelo Marques buying two thirds of the debt and the club the rest, the Arena is no longer under court restriction.

The club is awaiting OAS 26 and Karagounis, linked to Caixa Econômica Federal, to set out how and when they will assume the Olímpico site. A response deadline at the end of July passed without replies. Recent meetings brought no practical progress.

Only the swap will unlock the Olímpico’s future. The ground remains closed and overgrown in Azenha, Porto Alegre. The impasse has centred on cleared construction debt and surrounding infrastructure works that OAS 26 was to deliver.

There was a legal dispute over that responsibility. Grêmio maintains it has no obligation for those works, with most investment falling to OAS 26.

OAS 26 must commit to funding the works. Handing part of the Olímpico to the city so it could carry out interventions was considered. The Public Prosecutor’s Office is monitoring the talks.

Once the swap is executed, the Olímpico should be demolished, with demolition slated to start in 2026. Wall removal began in 2013 but was halted amid the legal stalemate.

Karagounis still has outstanding issues with Grêmio, including a penalty for the delayed swap, whose deadline expired in 2022, and the allocation of Arena parking in a nearby development.

The key exchange must happen by 2034, when the management right acquired by Marcelo Marques and donated to the club ends. If it does not happen, OAS 26 and Karagounis remain the owners and would take over administration.

Despite difficulties, the swap should occur before that date because the obligation is tied to the Arena’s registry. Even in an unlikely sale, any buyer would still need to exchange keys with Grêmio.

Source: Globo.com

“Artificial intelligence was used to assist in creating this article based on reporting from the original source quoted.”