Vasco’s Deliberative Council met tonight (7) to learn details of the binding proposal of 777 Partners, a company that wants to buy 70% of the club’s SAF. The session took place in a hybrid way and two of the main executives of the North American holding participated: the director Juan Arciniegas, remotely, and the founding partner, Josh Wander, in recorded video. In the slides, the company promised that the club will be “protagonist of the group and flagship [carro-chefe] in South America”.
Who represented 777 Partners in the presentation of the details of the agreement was Danilo Caixeiro, founding partner of Matix Advisors, a consultancy that brokered the agreement between Vasco and the company. The executive insisted on ratifying the investment that will be made, refuting theories that the R$ 700 million would come from resources coming from the club itself:
“When we talk about investment, we are, in fact, talking about a contribution. R$ 700 million will be contributed over the next three years and this is external money entering the SAF, leaving the 777 account and entering Vasco’s SAF account” .
In his recorded and captioned statement, American Josh Wander began by thanking him for the opportunity, said he was looking forward to the partnership and highlighted the club’s rich history.
“As you know, we look forward to partnering with you on this project. I would like to thank you for this opportunity to share our vision and a bright future for Vasco that we can build together. This club has incredibly passionate fans and a beautiful history. club that fought racism and promotes equal rights in Brazil. Everything about Vasco inspires us here at 777. We are proud and honored to become part of this rich history”, he said.
Wander then highlighted the investments already made by the “777 Football Group”, as the company’s football arm is called. And he emphasized that the traditions of all of them will be respected:
“You may have heard about the football business we are building at 777. You know we have teams in Italy, France, Belgium and Spain, and we will likely have many more in the future. In each case, our priority is carefully to respect history, the legacy and traditions that make each club special to its fans and the community that surrounds it.”
The founding partner of 777 Partners promised that with Vasco it will be no different and that all the tools will be used for the club to be a protagonist on the continent again.
“I am here to promise you that it will be the same way with Vasco. Our main objective is to preserve Vasco’s history and identity while ensuring that the club will have all the tools and structure to be successful both on and off the field. for many years. We want to bring Vasco back to where he belongs, one of the most important clubs in Brazil, South America and around the world”, he said, adding:
“We know how much each of you cares about the club and its future, which is why we want to work together to build on what you and others have created over the years. few weeks and, in the meantime, our team will pass on the details of our vision. Thank you and see you soon in São Januário”.
After the presentations, some counselors asked for the floor and pointed out questions that, in their assessment, are still unclear about the partnership. Generally speaking, there was a request for more details to be revealed about the deal.
Earlier, an Alerj commission filed a lawsuit demanding that the contract be fully disclosed. Chairman of Vasco’s Deliberative Council, Carlos Fonseca informed that he consulted the club’s legal department and that he guaranteed that there was no legal impediment to holding the session.
777 presents three scenarios for the renovation of São Januário
At a certain point in the presentation, 777 Partners showed interest in a possible renovation of São Januário, although this was not initially agreed in a contract with Vasco. In the binding proposal, the stadium will continue to be owned by the association, with the company paying a rent.
On the slide, the holding company presented three possibilities for such a reform:
1) The association carries out extensive renovation, continues with the property and 777 renegotiates the rent.
2) The 777 pays for the extensive renovation. If the association and the company reach an agreement, the property becomes SAF’s and the association receives value in improvements.
3) The 777 pays for simple renovations and nothing in the initial agreement is changed.
All parties, however, emphasized that a possible reform of São Januário will need to go through all the procedures and bureaucracy both in legal and internal terms in the club.