Days after announcing the sale of 90% of the shares of Sociedade Anônima do Futebol (SAF) from Cruzeiro to Ronaldo “Fenômeno”, many doubts arose in the hearts of celestial fans. One, specifically, has to do with the possibility of the former striker withdrawing from buying the club, following the “due diligence” process – an English term that can be defined as an audit.
In an interview with ItatiaThe economist and founder of Pluri Consultoria, Fernando Ferreira, said during a live presentation held on Monday evening, that Ronaldo has not finished buying Cruzeiro, but he clarified that the former player signed a document after obtaining preliminary information on the financial situation of Fox. Acquisition will only be completed after the previous player’s team certifies that the data transmitted is correct.
“There is actually no purchase contract. What Ronaldo has signed is a memorandum of understanding for everything that has been passed so far. We know the Cruzeiro balance, Cruzeiro’s situation, and it is clear that the managers passed on to Ronaldo advance information about the club’s situation. Based on the information passed on, he reached To understand ‘Well, I will buy Cruzeiro based on this information I received.’ And what is an audit? He explained that it is nothing more than making sure that the set of information passed on to Ronaldo corresponds to reality.
Fernando Ferreira has stated that Ronaldo may withdraw from the deal, if information is found that has not been passed on. However, this is unlikely to happen.
Ronaldo can give up the deal. Let’s imagine he finds a bunch of “skeletons” there, then he can say “Look at Cruzeiro, wait a minute, it’s completely different from what we agreed on, I really don’t want to take over the club anymore”. Could this happen? Yes, does this usually happen? No, when you get to the point of signing the memorandum of understanding, it is very difficult to stop the process.”
“What can happen – which is also common in mergers and acquisitions like this – is that the terms are renegotiated. From that moment on, the terms of that investment will be determined, and the values, terms and guarantees of that investment will be improved. Transactions like this are not usually aborted, Rather, they are already being seized. “I think it is very unlikely that this process will be reversed,” he concluded.
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