End of the wait! Vasco closes in on sale of 90% of SAF for over R$2bn | OneFootball

Vasco da Gama has moved forward with a historic deal to sell 90% of its Football Corporation (SAF) for an amount exceeding the impressive mark of R$ 2 billion. The club’s board and the official representatives of businessman Marcos Lamacchia held a decisive round of negotiations this past Wednesday (25), sealing the financial foundations of the deal after lengthy accounting review meetings. In recent weeks, the investor mobilized the full legal and financial structure of his private companies to scrutinize the Rio club’s numbers and align the contracts.

President Pedrinho showed great confidence that the multimillion-dollar transaction would be concluded quickly during his visit to the headquarters of the Brazilian Football Confederation (CBF) this week, but the institution chose to remain officially silent until the final documents are signed. The purchase agreement will need to go through the final strict investment schedule before being submitted for definitive approval by the Deliberative Council, the Benemeritus Council, and the other political bodies at São Januário. At the same time as this internal process, the buyer is working behind the scenes to obtain clearance from the financial fair play agency required by the sports system.

+ Heading toward Vasco SAF: Marcos Lamacchia seeks agency to evaluate club purchase

Structure of the preliminary agreement and the division of Vasco SAF shares

The preliminary document establishes minimum and mandatory investment commitments for several vital areas of the Giant of the Hill. The scope of the negotiation guarantees major investments for player transfers in the market, full payment of the payroll, and a deep modernization of the infrastructure at the Moacyr Barbosa Training Center.

The preliminary agreement also includes crucial cash flow injections and support for Olympic sports through the incentive law, transferring to the investor the obligation to assume all accumulated debt of the civil association and the sports company under the terms set out in the judicial recovery process.

The legal structure of the deal directly involves the portion belonging to A-CAP, the company that took over the assets of former partner 777 Partners, whose transfer amounts are already fully included in the final price set for the sale of Vasco SAF.

The current shareholding division gives the club association 30% control, while 31% belongs to the American corporation through investments made since 2022. The remaining 39% is under Vasco’s control by court order, requiring a formal agreement or a victory in the arbitration chamber for the full package of 90% of the shares to be transferred to the new owner.

Debt repayment and overcoming the previous collapse

While it moves quickly through the procedures for the billion-real sale, Vasco’s financial department has begun the initial payments of its judicial recovery in this first quarter of competitions, projecting that by the end of this month of March (31) it will have properly settled nearly R$ 20 million in debt.

By the end of this month, the club will complete payment of up to R$ 8 million exclusively to the civil and labor creditors listed in the process, and it also expects to deposit approximately R$ 10 million this week related to one of the collective plans accumulated at the National Chamber for Dispute Resolution (CNRD), where the legal department is trying to validate a new settlement agreement.

The progress with the executive, who divides his routine between Aspen, in the United States, and São Paulo, brings to an end a long period of nearly two years of severe uncertainty generated by the former sports management. The current board filed a court action to remove 777 Partners from control long before the global collapse that drove the foreign company into bankruptcy worldwide, surgically preventing the club from suffering from the asset liquidation promoted by Josh Wander.

With salaries kept strictly up to date, Vasco reached the final of the Copa do Brasil and ended last season with R$ 60 million in cash, sustaining its budget with the vital help of an R$ 80 million loan granted by Crefisa.

Marcos Lamacchia is expected to finalize the purchase of Vasco SAF soon – Photo: Reproduction

+ Follow Papo na Colina on social media: Thread, Bluesky, Twitter, Facebook, Instagram, YouTube, TikTok and Google News.

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