March 26, 2023

Cruzeiro confirms the investment by Pedrinho BH and explains the agreement

Cruzeiro officially announced on Friday night (3) the agreement between Ronaldo and businessman Pedro Lourenco to subscribe to convertible bonds in SAF do Cruzeiro.

Practically speaking, Pedrinho BH will invest the money in Raposa and may transfer the money into SAF shares in the future.

The club did not disclose the value of the contribution made by the businessman, but it amounts to about 90 million Brazilian riyals, based on the offer that Ronaldo made to the businessman in early 2022.

Contrary to what has been speculated, the agreement between Ronaldo and Pedrino BH will not change the corporate structure of SAF Cruzeiro, the club revealed in a note. Ronaldo Fenomeno still owns 90% of the club’s shares.

Cruzeiro also clarified that the amount invested by the businessman who owns the Supermercado BH chain will not be used for recruitment, but exclusively for the club’s “operational needs”, without giving details of the use of the funds.

The relationship between Ronaldo and Pedro Lourenco has always been cordial. In October 2022, during the Cruzeiro Caravan in Conselheiro Lafaiete, in the interior of Minas Gerais, which was attended by 10,000 fans, the duo shared the space and exchanged compliments.

“This year you have been with us a lot and help us. Without you, we would not have been successful. I want to leave here my thanks to you, for all your commitment and your unconditional love for Cruzeiro,” said Ronaldo.

Check out the official statement from Cruzeiro:

Tara Sports Brasil, a company controlled by Ronaldo Nazario that owns 90% of the shares in Cruzeiro SF, has reached an agreement with an investment vehicle linked to businessman Pedro Lourenço.

Given the news that has been released and the various speculations surrounding the negotiations, Tara explains that the agreement includes a convertible note subscription – which is already planned – and the money raised by Tara will be used exclusively for the operational needs of Cruzeiro SAF.

It should also be noted that the process does not initially characterize a change in the corporate structure or any intervention in the management of Cruzeiro SAF.