In a mixed meeting held today (10) and broadcast live from Vasco TV, the club’s consultative council approved by a majority vote the ritual sent by the board of directors and reformed by chancellor Luis Manuel Fernandez to coordinate the Sociedade Anônima do football. With that, Cruzmaltino took another step on the path that could culminate in the sale of SAF to 777 Partners in North America.
It was specified that the entire process could include up to four phases: In the first phase, the deliberation council would meet again to vote on the change to the statute that would allow the establishment of the SAF. If the proposal is approved, a general assembly will be held so that the partners may or may not take a decision of the directors.
Once the members give their thumbs up, the board meets for the final vote. This time to decide on setting up SAF itself and selling it to 777 Partners. If the majority agrees, members will go back to the polls to agree or disagree with the decision.
Last week, board members had already approved a so-called “bridge loan” of R$70 million from 777. This was a way for businessmen to signal their interest in managing Vasco football. With the amount, the club settled all salaries, pending with suppliers and debts in agreements with the federal government.
Vasco’s deliberation board met to decide on another step in building the club’s SAF
Photo: Reproduction / Vasco TV
Internally, there is optimism that all phases will be over, and soon, the 777 will take Vasco’s direction of football. If this happens, a new contribution will occur immediately, this time in the amount of R$120 million. The expectation is that part of this amount will actually be used to strengthen the team in the second division.
The promise is a total investment of R$700 million over the next three years, in addition to the North Americans’ commitment to take on the club’s debt, which currently stands at R$700 million.
Although not under contract, there is interest on the part of 777 Partners in the renovation and modernization of the São Januário stadium, as well as the professional and youth training centers.
The company’s executives are expected to arrive in Rio de Janeiro next week already familiar with the board’s moves, in a process participants described as a “transition committee.”
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