Palmeiras in talks to extend Academia de Futebol lease by 20 years | OneFootball

Palmeiras are in talks with São Paulo City Hall to extend the concession for the land housing their Academia de Futebol by 20 years.

The current concession, signed in 1988, runs for 40 years and expires in 2028, so the club moved early to head off obstacles. Metrópoles first reported that the city’s social assistance department has already approved the plan linked to the renewal.

City authorities tied renewal to funding 100 housing modules for the Vila Reencontro programme, which supports people living on the streets. Palmeiras accepted in part, proposing to pay R$ 10.7 million, the minimum amount.

The club argues the payment should be framed legally by how many modules that sum can finance, rather than a fixed 100. The draft deal also includes a write-off of some outstanding items under the existing contract. Mayor Ricardo Nunes (MDB) is expected to deliver a verdict soon, and the sides are not expected to resist finalising terms.

Separately, Palmeiras are preparing further investment to upgrade facilities, budgeting R$ 100 million for the youth training centre. The aim is to build the leading set-up in Latin America, with academy prospects central to club finances. Recent sales of Endrick, Estêvão and Vitor Reis have been pivotal.

Plans include purpose-built accommodation for youngsters recruited from outside the metropolitan area. For now, they live in a partner hotel near Academia de Futebol 1.

Source: Globo.com