Vasco makes a deal to sell 70% of the club for R$700 million

Vasco’s president, Jorge Salgado, closed an agreement in the United States for the sale of 70% of the club’s future SAF. The transformation into a corporation depends on the approval of the deliberative council and a general meeting of partners.

For R$700 million, the percentage must be negotiated with the American fund 777 Partners.

The information was released by GloboEsporte.com and confirmed to sheet by a person linked to the club’s representative.

The document signed by the investors and Salgado establishes a period of 90 days for the club to obtain the necessary approvals.

The value may be even higher because there is also the prospect of investments in the São Januário stadium (may reach R$ 350 million) and the payment of another R$ 700 million of debts.

Another 20% can be traded with fans, but the club must always keep at least 10% of the shares. 777 Partners would take over Vasco football.

According to information available on its website, the company specializes in aviation, media and finance services. It has a stake in the sale of broadcasting rights for the Brazilian Championship abroad, it also owns Genoa, from Italy, and has a stake in Sevilla, from Spain.

If the deal goes ahead, Vasco will immediately receive R$ 70 million to deal with short-term debts and the other R$ 630 million would be paid later. There is a rush to invest in the professional football squad as quickly as possible, with the approval of advisors and associates.

Among the greats of Carioca football, Vasco is the second that is close to becoming a SAF and receiving investment from abroad. Botafogo has an agreement with the American John Textor and the transformation to a joint stock company has already been approved by the deliberative council of the association.

Salgado had his first contact with 777 Partners even before Textor presented a proposal to Botafogo.

The Vasco fans even started a campaign on social networks so that the São Januário club could also be sold.

This season, Vasco will play in Serie B of the Brazilian Championship.

Cruzeiro was the one who started this movement among the greats of Brazil. In December 2021, the club announced that it was bought by former player Ronaldo Fenômeno.