Santos outline plan to lift transfer ban and clear wage arrears | OneFootball

FIFA’s transfer ban imposed on Wednesday has alarmed Santos, but the board intend it will not derail efforts to clear overdue wages and image rights, according to Globo.com.

The club’s finances are fragile. In the first quarter of this year, total debt rose beyond one billion reais, while salary and image-rights payments have been delayed.

With a little over two weeks before the transfer window opens, Santos aim to raise funds to settle the 2.032 million euros, R$ 12 million, owed to Monaco for the signing of Jean Lucas.

To generate cash, the club are working on possible player sales, targeting volumes comparable to recent deals that sent Luca Meirelles to Shakhtar Donetsk and left-back Souza to Tottenham.

Football executive Alexandre Mattos has downplayed expectations of new signings, citing finances and current market prices. He said the academy would be prioritised and any additions must be balanced and within the club’s means.

The ban on signings and the financial strain have cooled coach Cuca’s hopes. After the win over Vitória in the Brasileirão, he had expected to have some reinforcements after the squad’s holidays to work with before competition resumes.

Source: Globo.com