August 14, 2022
After agreeing to the advice, Vasco will have KPMG and a law firm to prepare the SAF |  Vasco

After agreeing to the advice, Vasco will have KPMG and a law firm to prepare the SAF | Vasco

This week, Vasco has taken another step towards becoming a club company. With the approval of the councils, the council will begin studies of the SAF (Sociedade Anônima do Futebol) project. The club is in the process of closing with two companies to help set up the project: KPMG and Veirano Advogados.

A member of the group of companies called the Big Four in the audit and consulting business – the others being Deloitte, EY and PwC -, KPMG is a global organization headquartered in the Netherlands. She will be responsible for the entire appraisal portion of Vasco’s assets to be incorporated into SAF.

The Rio de Janeiro law firm will, in turn, be responsible for the regulations, governance, composition, legality and coordination of the SAF implementation proposal. The agreements are expected to be announced soon.

The board will have an executive group to monitor the work of the charter companies to prepare the work of SAF – Photo: Hector Wehrlang

In-groups will monitor studies

Two internal councils were created to monitor the work of companies. The direction created an Executive Group, formed by the Vice-Presidents General, Carlos Osorio and Roberto Duque Estrada; by legal VP Zeca Bulhões; by Vice President of Finance, Adriano Mendes; by Vice President of Public Relations, Mauricio Correia; And by CEO Louise Mello. The idea is to oversee and ensure the schedule with the contracting companies.

Another group, formed of advisers and philanthropists of the situation and the opposition, will accompany them and offer their opinion on the process. Vasco realizes that it has qualified personnel on its board of directors who can additionally prepare for the SAF project.

Jorge Salgado, Vasco President, along with Osorio, Duque Estrada and Adriano Mendes – Photo: Hector Wehrlange

– Vasco deals with the issue with great responsibility. An understanding has been built between the club authorities that in order to advance the establishment of the SAF, legal and financial studies must be completed and that the Board of Directors is competent to employ them. We will do this immediately, giving full transparency to the process, which will allow the deliberations to be rational and mature – said the second vice-president of the club, Roberto Duque Estrada, to Give.

View and endorse advice

After receiving harsh criticism from the opposition, the request for the new step in the club-company process in Vasco was approved by the deliberation board. For two weeks, the Vasco administration worked with council members and presented the project in meetings with all opposition groups and positions that are part of the council. The meetings were attended by Roberto Duque Estrada, Zika Polhes and Carlos Osorio.

After listening to the club’s senior management, the Board of Penmeritos issued its opinion approving the administrative body to pursue studies. Everyone agreed that more information and preparation for a solid project is needed, because they know that this is a moment of change in Brazilian football.

With the referral of beneficiaries, the board members also understood that the board should continue studies. The vote was not necessary, and at a session on Monday night, the Chairman of the Board of Deliberations, Carlos Fonseca, endorsed the understanding that direction could begin immediately on contracting studies for the establishment of the SAF.

The formation of the Saudi Football Association is an essential step for Vasco to regain the ability to invest in football and also to eventually balance its financial resources. Our industry will undergo a relentless process of professionalization with rapid turnaround. Those who organize first will have an important competitive advantage, especially a giant of the size of Vasco, a national club with extraordinary potential. We will work hard to deliver the best project on the market – the famous President Jorge Salgado.