It announced it on the night of last Monday (24) to have filed a request for judicial recovery for his anonymous soccer company (SAF) and his social club. The estimate is a debt in a $ 1.4 billion to be negotiated.
“Difficult decisions, even when bitter and unpopular, do not reduce the conviction and determination of the current administration to face this challenge in a firm and responsible way,” the Rio club said in a statement. According to the club, a stage of mediations has already been completed and the next phase would be the judicial recovery.
Vasco is represented by the Alvarez & Marsal office in the process. The request was made at the 4th Business Court of the Court of Rio de Janeiro (TJ-RJ), on Monday.
Since May 2024, the Vasco da Gama Regatta Club Association has resumed control over the SAF of the traditional Rio club. Those, who had bought 70% of Cruz-Maltino’s shares, were dismissed by an injunction after allegation that they had a financial instability and could not bear one of the contract installments.
In a statement the club states that recovery “is fundamental to increase legal certainty, creating scenario of predictability and financial stability, favorable to attract new investors and, eventually, a future negotiation based on responsibility”.
“CRVG and VascoSaf reaffirm that day -to -day operations and investments in football will continue, as well as pay on the day’s salaries, athletes and other obligations,” says the note.
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Check out the integral of the Vasco da Gama note:
“The Vasco da Gama Regatta Club (CRVG), reiterating its commitment to transparency and respect for the entire Vasca community, informs that it filed for the request for judicial recovery from Vascoosaf and CRVG at the 4th Business Court of the Court of Rio January (TJ-RJ), this Monday, February 24.
After successfully concluding the stage of mediations, it is time for the institution to advance to the next phase. Judicial recovery is fundamental at this time, since it reinforces the commitment to the present and the future of Vasco da Gama.
Restructuring, which began in June 2024, aims to effectively restore the financial health of the Club and SAF. This process continues with the support of Alvarez & Marsal and renowned highly specialized law firms.
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Judicial recovery is fundamental to increase legal certainty, creating a scenario of predictability and financial stability, favorable to attract new investors and, eventually, a future negotiation based on responsibility.
CRVG and VascoSaf reaffirm that day -to -day operations and investments in football will continue, as well as pay on the day’s salaries, athletes and other obligations.
Difficult decisions, even when bitter and unpopular, do not reduce the conviction and determination of the current administration to face this challenge in a firm and responsible way. Either the reality is seen, or the risk of continuing to repeat the same mistakes as the past.
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Information on the financial recovery process will be updated through the official communication channels.
Vasca Greetings
Pebble
President of the Vasco da Gama Regatta Club
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Carlos Amodeo
CEO da Vasco Saf ”
*With State Agency
