Bittencourt on SAF at Fluminense: transparency, new committees, debt plans | OneFootball

In an interview with CazéTV, the president of Fluminense, Mário Bittencourt, outlined the detailed plan for analyzing the investment proposal that could transform the club into a Sociedade Anônima do Futebol (SAF). He reaffirmed that the final decision will be up to the members in a General Assembly and revealed a strategic financial maneuver: using extraordinary revenues to reduce the club's debt and, thus, increase its market value before any agreement.

According to the president, the process will be careful and will not be defined yet in 2025. “This is a process that will not be defined this year, due to technical and bureaucratic issues,” stated Bittencourt, reinforcing the commitment to transparency.

The Path of the Proposal: Committees and Transparency

The first step will be the creation of two fronts of analysis. An internal committee, formed by members of the Deliberative Council, will evaluate the proposal, while simultaneously, an external committee will conduct an independent analysis.

“There will be notable people from various areas — finance, legal, etc. — who have no ties to the club. Prominent names from external markets so they can also analyze,” explained the president. He emphasized that, although the model is not innovative, the management seeks to be “more transparent than others” clubs that have undergone the same process.

The Final Decision in the Hands of the Members

If the proposal is approved by the committees, the path to the final decision will have two crucial voting stages:

Bittencourt estimates that the club's electoral body is robust today. “I believe that today we have eligible members — combining social club, contributing member owner, and supporter member — close to 30,000. So the fans will be able to decide in the future if the proposal progresses,” he assured.

Financial Strategy: Reducing Debt to Change the Game

One of the highlights of the interview was the revelation of a strategic move by the board. Fluminense plans to use part of the “extraordinary revenues” from 2025 to pay off a significant portion of the debt before advancing in negotiations.

The consequence, according to Bittencourt, is a revaluation of the club that will directly impact the terms of the proposal. “With a smaller debt than the current one, percentages change and values change,” he asserted. The action places Fluminense in a stronger position at the negotiating table, being able to demand a larger investment for a smaller percentage of the club.

“Opportunity, Not Just a Proposal”

Finally, the president made a point to recontextualize the moment. For him, more than just a simple “proposal,” the interest from investors is an “opportunity” and a recognition of the restructuring work done over the last six years. He highlighted that the interested parties are “great tricolor entrepreneurs, tricolor families from Rio de Janeiro and Brazil in general.”

“I consider it essential that, after six years, we have structured the house in such a way that today we have the opportunity to analyze an investment proposal to make Fluminense more competitive,” he concluded.

Photo: Frame Reproduction CazéTv

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