While he has 10 rounds left in the Brazilian Championship to find a place in the Libertadores 2023, Atletico MG You will conclude the year already in the advanced process of becoming a club company, by Law 14.193/21. The only thing missing is a “yes” from the board, which is supposed to come in December via a meeting at the administrative headquarters.
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a General Electric He spoke to behind-the-scenes sources at Gallo and raised some points about Anonyma de Futebol (SAF) within the club, a natural and inevitable course, so much so that Atlético’s board of directors has already exchanged documents with potential investors.
Alfinegra’s leadership was encouraged by the sale of 90% of Bahia to Citigroup for R$1 billion. The rooster will be more valuable, but nothing unreal. The big difference is that Atletico will negotiate for the future investor’s contribution in the short term, which is very different from the fifteen years that the Arab conglomerate signed with Bahian FC.
SAF has a lot of interest in Atlético, but there is still a long way to go, especially with the participation of the deliberating board. The authority even elects its new president on Monday, Ricardo Guimarães, for the three-year term 2023/2025, which is already Galo’s term as clubhouse and also in the new home, Arena MRV, which will open in March.
Atlético logo at the MRV Arena – Photo: Publicity / Arena MRV
Watch some open and closed points of the SAF in Gallo
Atlético joined the SAF, but it is a process that still depends on the council. At this point, with the help of E&Y Consulting and BTG Pactual Bank, a study-style document for the sale of Diamond Mall has been prepared, for presentation to the market and potential interested parties in SAF do Galo.
The PSG chief and Fenway Sports Group (Liverpool Monitor) have been speculated as potential buyers, but they have not been in the race. In addition, the value that will be equal to 100% of the Atlético SAF – from which you know the relative value of 90%, 70%, 60% or 50.1% – are potential negotiable chips.
a General Electric I found that the documents presented by Atletico to the market tell quite a bit about the history and context of Gallo, a club founded nearly 115 years ago, and the current champion of the Brazilians. Brazil Cupas well as revenue and billing prospects, the project is short, medium and long term from a financial and mathematical point of view.
There was good interest in the market in accessing the material, through a confidentiality agreement, but within a few weeks, the real potential buyers were liquidated, and that number, today, is less than 10 potential investors, who need to know – the profile – how to entertain along the lines of American sports, as well as knowledge of football as investment funds in Europe.
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The most recent examples from Brazilian football suggest that 90% of SAF shares have been sold to investors. It was the same with Botafogo, Cruzeiro and Bahia, each with a different value. Vasco will sell 70%. It is not the scenario that Atletico think is ideal, although it is the market that determines this ratio.
When Atlético SAF becomes on board, it will own 100% of the shares, but with the investor already in place. The ideal, in Gallo’s view, is to maintain at least 40%, and the most encouraging scenario for the Civic Association to be the minority partner at 49.9%.. Logic suggests that any owner coming to invest millions (or billions?) of Real Madrid in Atlético wanted to be the controller – the majority partner with at least 50.1% of the shares.
It is noteworthy that the civil association, according to the SAF Act, must own at least 10% of the shares. It has the right of veto if the majority member wants to change the symbols and other aspects of the club’s identity (the shield, the shirt, the colors, the anthems).
The deliberation board will have a new president – Ricardo Guimarães – from Monday. He will chair the commission’s meetings to discuss the Sudanese armed forces. Atlético has declared its commitment to the Clubs and Companies Act. But he takes “OK” from the board. There are no budget forecasts, but this formal accession to the CD must be made by vote, with two-thirds of the total number of advisers writing ‘yes’.
The fact is that after Atlético becomes SAF, concluding the agreement with the future investor, the club returns to the Board of Deliberations, which will then need to agree to sell any percentage of the club company, with the same need. 2/3 approval for the sale of Gallo’s properties.
The Atlético Council meets in November to vote on the budget. However, current expectations are that there will be a scheduled SAF membership meeting in December 2022.
Atlético Consultative Council meeting – Photo: Bruno Sousa / CAM
In the negotiations between Atlético and the investor, there is control of football at SAF, and a discussion of whether the fixed assets will enter the sale process. The club company will own the percentages of the players’ economic rights, but they will not necessarily become the owners of the Cidade do Galo, the administrative headquarters of the Lourdes, the future Arena MRV (worth R$1 billion), and other tangible properties. The initial idea is for Atlético to keep its immovable assets.
Atlético is also in the process of completing the sale of the remaining 49.9% of Diamond Mall. Multiplan, which owns 50.1%, exercises a full buyout advantage. He will pay 340 million Brazilian Real. It is necessary to close the proceedings in the CADE, which will happen in November. Galo will receive the first installment of R$ 136 million, and the rest ( R$ 240 million) over 12 months.
The money will all be used to reduce Atlético’s burdensome debt, which currently ranges in the range of R$500m – R$600m. The rest is tax installments and debts with R’s. The future owner of Atlético’s SAF is expected to inherit a total debt of between R$700 million and R$800 million, mostly loans from supporters of Ricardo Guimarães, Rafael and Rubens Menin, which is not excluded to be partially “replaced” in a lower proportion by the future SAF.
Atlético debt file at the end of 2021 – Photo: Reproduction / Atlético-MG
The City Group’s proposed values of 90% of SAF’s shares in Bahia have encouraged Atlético leaders, who expect relatively higher sales. However, in Bahia, the contribution will be mitigated within 15 years. Galo wants the future receivables of SAF shares to be invested in a much shorter period of time.
The R$1 billion that City Group has promised to inject into Bahia is divided into three points: R$500 million in player purchases, R$300 million in debt repayment, and another R$200 million for infrastructure, core class and fund flow.
Atletico intends to become SAF, at the latest, in January 2023, and will take advantage of the transfer window that will open on January 11 to make professional contract transfers for players and coaching staff in the new molds, in the BID of the CBF.
It is clearly an issue that affects the investor’s attendance and his football plans at Atletico next year, as well as the maintenance of parts, and of course coach Coca himself, who has a contract with Gallo only until the end of 2022. ..
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Galo na Veia – Atlético-MG Membership Program – Photo: Disclosure
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