Court seizes 777 shares, bars Vasco SAF sale without approval | OneFootball

The Rio de Janeiro Court of Justice ordered, this Thursday (14), the immediate seizure of 777 Partners' shares in Vasco SAF. The ruling by Judge Maria Aparecida da Costa Bastos, of the TJ-RJ, grants a request from Matix Capital, the company that brokered the sale of Vasco’s football division in 2022. With this court order, the club is prohibited from selling or using these shares as collateral in any deal without prior authorization from the court.

The freeze comes at a sensitive time, as president Pedrinho is in advanced negotiations to transfer control of Vasco SAF to businessman Marcos Lamacchia. The board’s plan is to negotiate 90% of the football shares, but this new legal complication forces the club to resolve its pending issues with Matix Capital before signing the new contract. The company based its request on the risk of dissipation of assets by the former American majority partner.

+ Sale of the SAF moves forward, but Vasco and Marcos Lamacchia disagree over revenues

Matix Capital cites 777’s financial crisis to halt Vasco SAF deal

Matix Capital, whose partners include former Botafogo CEO Thairo Arruda, filed the lawsuit over concerns about the alleged financial crisis facing 777 Partners companies. If the decision is upheld, the membership-based club will have to obtain specific court approval to continue the process of selling Vasco SAF. This scenario increases the deal’s legal uncertainty, as it gives a third interested party veto power over share-related moves.

Currently, the shareholder structure is divided among the club association, the former management group, and a portion still under discussion in FGV arbitration. Control of 39% of Vasco SAF's shares was returned to the club by a previous court order, but the current seizure applies to the stake that still formally belongs to the foreign group. The legal department is working to try to overturn the decision and ensure that the sale timeline does not suffer significant delays.

Josh Wander, former CEO of 777 Partners, at São Januário – Photo: Rafael Ribeiro/Vasco.com.br

Judicial seizure affects Pedrinho’s plans

The impact of the decision on the market is immediate, as Marcos Lamacchia’s group is demanding guarantees that it will not inherit legal liabilities from the previous management. The freeze on Vasco SAF's shares serves as a warning to investors about the complexity of the contracts signed in 2022. President Pedrinho is now seeking a diplomatic or legal solution to isolate these shares from the dispute between the intermediary and 777 Partners.

The club’s legal department is expected to file an appeal in the coming days to try to unblock the assets and continue the administrative modernization process.

Core group of the former 777 Partners at São Januário – Photo: Leandro Amorim / Vasco

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