The Deliberative Council of Portuguesa approved this Thursday night (14), by acclamation, the transformation of the São Paulo club into a SAF (Sociedade Anônima do Futebol), in accordance with the proposal presented by a group of investors last week.
The implementation of the SAF still depends on approval at the General Assembly of club members, on a date to be scheduled in the coming weeks.
Headed by Tauá Partners, a company in the financial sector that intends to take over SAF, with financing from XP Investimentos and works carried out by Revee, the project foresees the investment of R$ 263 million in the football department, with the goal of returning Portuguesa to Series A of the Brazilian Championship and the semi-finals of the Campeonato Paulista until 2029.
The team is currently in the first state division, but in the fourth national division, Series D. The investments would range from the youth categories to professional football.
The investors also want to remodel the Canindé stadium, which, at a cost of approximately R$500 million, would become a multipurpose arena, along the lines of Palmeiras’ Allianz Parque. The capacity would be around 30 thousand spectators for games and 45 thousand to 50 thousand for shows.
The project envisages a garage building next to the arena, with 2,500 spaces, and a 16,000 square meter roof, for events such as weddings and graduation parties.
Under the agreed model, investors will have 80% of SAF, with the remaining 20% remaining with Portuguesa.
On Wednesday (13), the club’s Guidance and Supervisory Board analyzed the opinion of an independent law firm, hired to evaluate the investors’ proposal. The recommendation was that the draft be approved with reservations. These reservations remain after the decision of the Deliberative Council.
“The decision marks a historic moment for Portuguesa, which is seeking a new management model aimed at financial sustainability and competitiveness in the national sporting scene,” said the club in a statement published on social media.
The result so far pleases the team’s organized fans, Leões da Fabulosa, who called on fans to come out in force to the club to follow the vote.
“Approval with reservations is crucial!”, the organizer wrote on social media before the meeting. “We believe that the right path is to approve with reservations, allowing the legal departments on both sides to align the details and resolve the outstanding issues, ensuring the best for our Lusa.”
