Vasco Finance Council announces that a loan of R $ 70 million for 777 has been completed; see cost | vasco

The R $ 70 million that 777 Partners lent to Vasco in March, as part of a memorandum of understanding that the parties had signed a month earlier, has expired. The information is contained in a letter sent by the club’s Board of Directors last week to the Negotiating Council, with a copy to President Jorge Salgado.

+ SAF has strict deadlines within the month of the window opening

Communication from the Finance Council is part of the monthly monitoring of the loan resources movement and has been signed by the council’s president, João Marcos Gomes de Amorim. In the letter, CF states that it confirmed “entries made from the original position” (in May) and found that “June 6, 2022, resources were resolved”.

+ See the full classification of Série B of Brasileirão

Vasco President Jorge Salgado, with Josh Wander, 777 – Photo: Rafael Ribeiro / Vasco

The purpose of the letter, in addition to informing about the reduction in funds, is to alert “the need for short-term funding, which focuses on the continuation of the fulfillment of promises made and planned for the next period. Months”. In other words, Vasco will have to work with its resources from now on.

The document also suggests that the president of the Bargaining Council, Carlos Fonseca, bring the report to councilors – something that has already been done. Vasco was wanted by the report, but has not yet responded.

Highly paid salaries

When a loan from 777 Partners reached bills, Vasco was charged two months’ salary for players and staff, as well as vacation and 13th from the previous year. According to the analysis of costs incurred by the Finance Council, about R $ 25 million was set aside to pay these wage fees.

In addition, approximately R $ 30 million was used to reduce other types of debt: R $ 15,679,167 was used to repay “agreements and installments” and R $ 14,287,835 for “loan repayments”.

R $ 5,168,042 was spent on “athletes’ purchases and loans”. It is worth noting that Carlos Palacios, Vasco’s largest investment of the year, cost about R $ 8 million and part of his transfer was paid off on loan resources.

Vasco beats Londrina by Serie B in coach Maurício Souza’s first match

+ Want to turn your football skills into cash prizes in every Brasileirão cycle? Access Cartola Express!

SAF has not yet been established

The SAF do Vasco Constitution is nearing completion. A final agreement between the club and 777 Partners is expected until this Tuesday, when the US company’s expulsion period expires. With the document in hand, the Special Committee of the Negotiating Council will have 15 to 25 days to comment or disagree with the proposal.

Thereafter, a meeting will be convened in the Negotiating Council with a stakeholder vote in the General Assembly to approve the 70% sale of SAF to 777. Vasco and the company expect the process to be completed by mid-July.

+ Read more information from Vasco

See a summary of loan costs:

Loan entry – R $ 69,707,235

  • Operating Results – BRL 37,351,748 (54%)
  • Salaries, pay and benefits – R $ 24,303,367 (35%)
  • Sports costs – BRL 477,209 (1%)
  • Cost and various expenses – R $ 4,862,252 (7%)
  • Purchase and loan of athletes – BRL 5,168,042 (7%)
  • Taxes – BRL 713,936 (1%)

Inactive results – BRL 34,198,119 (49%)

  • Agreement and installments – R $ 15,679,167 (22%)
  • Fees and fees – BRL 224 (0%)
  • Loan repayment – R $ 14,287,835 (20%)
  • Loan repayment – R $ 4,230,892 (6%)

The remaining R $ 1,842,632 was transferred from the club account to the club’s SAF account.

+ Let’s go to Brazil! Greatest offer of games at a game-giving price. Sign Up for the First Show!

See all about Vasco on ge, on Globo and on sportv:

Leave a Comment