Exa Capital’s Santos deal expires Friday with renewal undecided | OneFootball

Santos’s contract with Exa Capital expires on Friday with no renewal confirmed. The consultancy was hired to help restructure the club’s finances, yet several planned projects remain unfinished. The deal is worth R$ 2.1 million.

Per Diario Do Peixe, Exa has acted in a consultative role on debt renegotiations and budgeting, with daily cash flow monitoring. The club denies Exa or Alexandre Cobra sourced Saint Dominique Capital, saying investors were introduced by XP, and says any renewal will be assessed internally.

The partnership began on 7 April 2025 to implement management processes, restructure liabilities and steady cash flow, alongside long term planning to raise revenue and cut costs. A renewal signed on 29 January 2026, retroactive to 5 January for 180 days, cut Exa’s monthly fee from R$ 165,000 to R$ 105,000.

The scope covered the membership revamp, due diligence for a future SAF with XP, support on the WTorre arena, debt refinancing, fundraising and ticket pricing studies. Exa is also entitled to a two percent commission on funding it originates, payable on release of funds, including advances on player receivables.

Some 450 days on, cash flow issues and delayed payments persist, and oversight bodies have questioned the Q1 2026 accounts, notably NR Sports entries and the stated total debt. On Wednesday FIFA imposed a transfer ban over unpaid instalments to Monaco for Jean Lucas.

The WTorre arena partnership remains suspended, and the planned purchase of CT Rei Pelé is under Federal Prosecutor investigation, which has recommended suspending the auction set for 4 August 2026. Due diligence by Saint Dominique Capital has not finished after legal disputes between the parties, the timetable was reset on 23 June and there is no concrete prospect of a SAF investment proposal.

Source: Diario Do Peixe