Jorge Braga, CEO of Botafogo, spoke with great anticipation about the implementation of the SAF – Sociedade Anônima do Futebol – in the country, which now depends on a second vote in Congress, after the sanction (with vetoes) of President Jair Bolsonaro. In an interview with SporTV this Tuesday, the director listed the attractions that Glorioso presents to the market.
– I think Botafogo is by far the best investment product on the market. There are two mechanisms, which is to face the debt and bring in new money. Botafogo has a brand reputation, a worldwide visibility, with a gigantic track record. It has a set of very relevant assets, from the six headquarters, and with a history of training athletes, economic rights, very large. So, in my opinion, this set makes Botafogo the most interesting football investment product in Brazil at the moment – he said.
– We have the important regulatory framework that is the SAF, and the concept that Botafogo is discussing is structurally the same as the SAF. Only now we have a law that says just that. The legal certainty that SAF brought changed the market’s perspective in relation to Botafogo – he added.
With an estimated debt of R$ 950 million and a debt-to-income ratio of almost eight times, Botafogo is working so that Botafogo S/A gets off the ground after SAF’s approval. Jorge Braga revealed that he was rooting for Jair Bolsonaro’s vetoes to fall in Congress.
– As it (the SAF law) was originally conceived, it is very beneficial in my opinion, in the sense that it preserves the continuity of the clubs, it creates a transition period, but requires a very clear management, a commitment to the payment of debts, the creation of a separate entity. The original model of SAF is very welcome and I hope that the vetoes fall – said Jorge Braga.