Fluminense’s SAF could take place in 2025 and businessman André Esteves, main partner at BTG Pactual bank, which is carrying out the study for the club’s SAF implementation, could invest as an individual in the project.
According to journalist Ancelmo Gois, from the newspaper “O Globo”, André, who is a Fluminense fan, is determined to invest in the Tricolor Football Association project. BTG bank is responsible for structuring and seeking investors for Fluminense as a future club-company. André would become one of the investors.
What is André Esteves’ fortune? THE Sporting News show.
The size of André Esteves’ fortune
Born in Rio de Janeiro (RJ) and now 56 years old, André Santos Esteves is the 9th richest Brazilian today, according to a ranking by “Forbes” magazine. He has an estimated net worth of R$32.71 billion.
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In 1989, when he was still studying computer science and mathematics at the Federal University of Rio de Janeiro (UFRJ), André was hired as a systems analyst at Banco Pactual, which had Paulo Guedes among its founders. Four years later, he became a partner. In 2005, at the age of 37, he joined the list of Brazilian billionaires.
BTG Pactual bank had a record adjusted net profit of R$2.9 billion in the second quarter of 2024, an increase of 15% compared to the same period last year. Esteves is the main individual shareholder of the financial institution.
When will Fluminense become SAF?
In a press conference last Monday (16/12), the president of Fluminense, Mário Bittencourt, stated that the vote to change the associative model to SAF should take place in 2025. Tricolor has already decided that it will sell control of football of the club.
– We are convinced that the best instrument to end debt is the SAF. We don’t have an investor yet, the bank continues to advise us. In the last meeting we had, at the end of last year, we mandated the bank to also look for investors who want to buy control. We understand here, and that’s why I say that it is a long process, without thinking about personal interest, that we had to open the door to the possibility of selling control, as this can increase the amount of money to make a strong team and pay the company’s debt. club which is the most important. The SAFs that attract me the most, such as the City group, from Bahia, prioritized paying the debt and then looking for a strong team – said Mário.
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