Vasco offers to pay R$10m a year to CNRD, faces creditor opposition | OneFootball

Vasco is trying to get its third collective creditor payment plan approved. The advanced negotiations are taking place at the National Chamber for Dispute Resolution (CNRD). The body belongs to the CBF. Vasco’s SAF proposed a payment cap of R$ 10 million per year through 2038.

The club recently started another transfer of R$ 10 million to the chamber. The expectation is that the body will rule on the new case soon. However, several clubs and agents have spoken out against the current proposal. They demanded that the sports chamber apply strict scrutiny in this process.

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Creditors’ opposition and the main complaints

Among the creditor clubs are Fluminense, Santos, and Red Bull Bragantino. They formally submitted statements opposing the plan. Link, the company of agent André Cury, challenged Vasco’s offer. The player agencies OTB and Guadagno Sports also rejected the club’s official plan.

The creditors also question budget transparency and the club’s recent player signings. Link said the plan shifts the business risk onto the creditor. The law firm Trengrouse Gonçalves Advogados warned about new credits. Debts of R$ 316,610.19 and R$ 1,465,311.01 were added between February and March 2026. This reduces each creditor’s share.

Vasco SAF’s defense and the restructuring process

Vasco submitted its filing on March 23. The document was addressed to the case rapporteur, Ana Beatriz Macedo. The club says it is in the final stage of financial restructuring. Completion is projected for the first half of 2026. The plan includes complex negotiations with the Office of the Attorney General of the National Treasury (PGFN).

The club justifies the proposal in the context of its Judicial Recovery proceedings. The limited distribution and focus on the IPCA prioritize unavoidable tax debts. The board says individualized guarantees would break the equality of collective enforcement. Vasco guarantees that its 2026 player signings comply with budget limits. The plan’s technical feasibility is backed by an independent study.

Vasco tries to get installment payment of credits approved in the CBF’s dispute chamber — Photo: Luiz Vitor Lopes

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