Atltico: the fortunes of the super-rich who decide the direction of the club

(Photo: Releases

The moment of euphoria experienced by athletic on the field, with the signing of big stars, such as Hulk and Diego Costa, and off the four lines, with the construction of the MRV Arena, it is only possible thanks to the financial and management support of three entrepreneurs: Rubens Menin, Renato Salvador and Ricardo Guimares. Together, they participate in a collegiate body that makes the most important decisions of the club under President Srgio Coelho’s administration. Another member of this team Rafael Menin, son of Rubens.

The three main ones have great success in the companies in which they participate, with figures that reach billions of reais. O supersports He sought out financial market specialists to learn about his fortune and find out how the business of the athletic patrons is doing.

Rubens boy was considered the 15th richest in Brazil, according to the magazine forbes of August of this year, which took into account the participation of entrepreneurs in companies listed on stock exchanges as the main source of information for the survey.

Most of Menin’s money comes from his participation in the construction company. MRV. His assets are valued at R$18.9 billion. the richest businessman in Minas Gerais, according to the North American publication.

According to the MRV website, Rubens Menin owns 37.8% of the company’s shares. The remainder is divided as follows: others (46.9%), Atmo (10.1%), Dynamo (4.1%) and executives and board members (1.2%). In 2019, the company purchased AHS Residential, entering the US market.

(Photo: Gladyston Rodrigues / EM / DA PRESS)

Analyst Raul Grego Lemos, from Eleven, praises the company’s performance at this time. “MRV Engenharia presented a good result in the second half of 2021, generating operational leverage and strong operational growth in the annual comparison. Among the main highlights are: (I) investment in new fronts continues to grow; (II) growth of 9.7 % in net revenue, reaching R$1.8 billion; (III) maintenance of operating expenses, offsetting the negative effect of the increases in material costs that pressured the gross margin; and (IV) net profit of R$203 million, 16 .5% above our estimates”, he highlighted.
Rubens Menin is the great guarantor of Atlantic transformations. The club’s stadium is being built, in Bairro Califrnia, in Belo Horizonte, in an area donated by the businessman, valued at R$49 million.

Menin also bought the naming rights of the arena for R$ 60 million, in a 10-year contract. At the end of this period, MRV has the option of extending it for another five years for R$30 million.

The various contracts made by alvinegro in recent months had the financial support of Menin, who has credit of around R$330 million with the club, according to information disclosed by the business day rooster, in April.

Another one from the family that supports the club Rafael Menin, with participation in decision-making and administrative work. He is the CEO of MRV. The Menin family owns a conglomerate that includes CNN Brasil, Banco Inter, Log Commercial Properties and Rdio Itatiaia, in addition to MRV.

Renato Salvador

(Photo: Reproduce

The Salvador family, owner of the hospital network, joined the super-rich club this year. Mater Dei, which went public on the stock exchange in April. The family’s fortune is valued at BRL 5.95 billion by the magazine forbes.

Renato Salvador is President Srgio Coelho’s trusted man in matters related to football. He was one of those responsible for the arrival of coach Jorge Sampaoli at Atltico. In 2020, a photo in which Sampaoli appears drinking a glass of wine in Salvador’s house went viral.

Of the trio of patrons, Renato is the most reserved, avoiding public appearances in the sports press.

Renato’s brother, the breast cancer physician Henrique Salvador Silva the main name in front of Mater Dei, occupying the position of CEO of the company. According to the website of B3 (So Paulo stock exchange), Henrique has 3.42% of the shares in his name. Renato the second, with 2.49%. The sisters Maria and Mrcia, in addition to the grandchildren of the patriarch Jos Salvador Silva, are also part of the shareholding. Most of the shares are concentrated in JSS Empreendimentos e Administrao Ltda, owned by the family (61.76%).

In the report, analyst Marina Ferraz explained the timing of the Mater Dei network, new to the stock exchange. “The highlights of the quarter were: (I) a 6.6 percent increase in the occupancy rate in the quarter, from 68.1% in the first quarter of 2021 to 74.7% in the second half of 2021, (II) increase in EBITDA (earnings before interest, taxes, depreciation and amortization) of more than 50% per year, reaching 34.6%, its highest level in history, and 10.7 percentage points, above the same metric as Rede D’Or , current industry leader; (III) greater number of admissions related to COVID-19 and (IV) announcement of the acquisition of the Porto Dias Group.”

In July, Mater Dei purchased 70% of Grupo Porto Dias (PDG), the largest private hospital network in the North region of Brazil, for BRL 800 million, in addition to the issue of 27 million shares of Mater Dei (7.1% of the total capital) in favor of PDG shareholders.

Ricardo Guimares

(Photo: Releases

Who closes the trio of patrons Ricardo Guimares, who already chaired the club from 2001 to 2006. He lived in front of Galo in a difficult time, with relegation to the Second Division in 2005. In recent years, he has provided financial support. In addition, it donated land for the expansion of Cidade do Galo in 2006.

According to President Srgio Coelho, the arrival of striker Diego Costa was financed in part by the businessman’s money.

In June of this year, Atltico reduced its debt with the Guimares family by R$ 70 million: from BRL 155 million for R$85 million. From the amount to be paid, Atltico will disburse BRL 20 million to the former president. The other BRL 65 million will be paid in the form of sponsorship from the Bank BMG on the first team jersey.

According to the BMG website, the Guimares family holds 82.5% of the bank’s shares, leaving 17.5% for minority shareholders. The market value of the bank of BRL 2.3 billion, according to Eleven Financial Research, which informs that “BMG ended the second quarter of 2021 with the company’s credit portfolio at R$ 14.4 billion, with an expansion of 1.7% in the third quarter and 15.7% per year”.

“The bank had recurring net income of BRL 85 million in the second quarter of 2021, which represents a drop of 2.9% in the third quarter and 15.2% per year”, completes Eleven.

Challenge of making the Atlantic sustainable

(Photo: Releases

The great challenge of the trio of super-rich patrons and Rafael Menin is to make Atltico a sustainable team. With total debt of BRL 1,209 billion, Rooster intends to reduce it to BRL 341 million until 2026. Between 2019 and 2020, the athletic debt increased by BRL 462 million.

For the economist and consultant at Ita BBA, Cesar Grafietti, the great risk of the Atltico project is not being able to sustain itself without the money of the billionaires. “You can only get out of this trap when you have a volume of revenue that is capable of paying your bills on your own. Where does the project hope to end? When the stadium (MRV Arena) is ready. You add more revenue from the box office, partner- fan, have more achievements that allow to increase the variable awards and TV revenue, eventually selling players, improving advertising management,” said the economist, in an interview with supersports in July this year.

“Every project has a risk. Certainly, this risk is known and measured in the structure of Atltico, even in the history of the Menin family in business. It’s a problem that the club needs to start reducing costs with lower income. result of this big project in three, four years, in the hours when things are working in the studio. If there is success, or if you need to rethink something along the way,” he added.