Vasco make progress in talks over São Januário redevelopment potential | OneFootball

Vasco da Gama continues to make progress in negotiations regarding the sale of the construction potential of São Januário, a fundamental step to make the long-awaited stadium renovation possible. The club is in the process of due diligence with the developers who have signed purchase options, evaluating the conditions and values involved before the final signing of the contracts.

According to journalist Joel Silva, Vasco will have a meeting this Friday (31) with representatives from Brastinto, a company interested in acquiring 30,000 m² of the construction potential. Two other developers have also expressed interest: SOD Capital, which intends to purchase 250,000 m², and Tegra, which is seeking 30,000 m².

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Photo: Reproduction.

If the deal goes through, it could bring the Cruzmaltino around R$ 614.5 million, an amount that would be allocated to financing the modernization of São Januário. Although the project is not yet fully budgeted, estimates indicate that the cost should exceed R$ 700 million.

The current due diligence involves legal, financial, and technical analyses, ensuring that all parties comply with legal and urban planning requirements before the purchase and sale contracts are formalized.

The construction potential is an instrument provided for in Rio de Janeiro's Master Plan that allows Vasco to negotiate the right to build above the permitted limit on other plots in the city. This way, developers can undertake larger projects, while the club obtains resources without having to give up the São Januário land.

The stadium renovation project, which is part of the strategic planning of SAF and 777 Partners, foresees increasing the capacity to around 43,000 spectators, as well as modernizing social, commercial, and hospitality areas, transforming the stadium into a multi-purpose complex.

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Photo: Reproduction.

The expectation is that, as negotiations progress, Vasco will be able to confirm the first sales of construction potential as early as 2025, allowing the construction schedule to begin the following year.

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