The SAFS Act (SAFS) completes four years of implementation now by 2025. By converting non -profit associations into companies, with the possibility of injecting resources from external investors, this model allowed large teams to overcome serious financial problems and return to the first level of Brazilian football. But not all clubs had the same experience with this model, which raises questions about an ideal SAF model.
Among the cases seen as good examples, the first SAF to win the Libertadores Cup in November last year. In 2022, Alvinegro sold society’s control to the American tycoon John Texor, who promised to invest $ 400 million in the team in three years, in exchange for 90% of shares.
Esporte Clube Bahia has passed this same slice of its SAF to City Football Group and is also considered a case Successful – practically zeroed in a period of a year, made the largest purchases of northeastern football and has benefited from the exchange of information with experts from other clubs around the world.
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Vasco: the ‘black sheep’ of the SAFs?
On the other hand, there is the example of Vasco da Gama, which recently with an estimated debt of $ 1.4 billion. The 777 Partners bought 70% of SAF’s participation in 2022, for R $ 700 million. In May 2024, an injunction returned control to the club on the grounds that the controller, which faces other litigation and financial problems outside Brazil, would not have the ability to afford scheduled payments.
Vasco included in the judicial recovery, in addition to the non -profit civil association, its SAF, since most of the association’s debts were transferred to the company created in the sale of football to 777 partners.
Fortaleza looking for minority investor
As a rule, here in Brazil, the clubs that operate as SAF have more than 50% of the actions in the hands of investors. The most notorious exception is Fortaleza, which became SAF in September 2023 – society is controlled by club members and, for now, has no external shareholders yet.
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In interviews, the CEO of society, Marcelo Paz, has been explaining that the team decided to change for easier and cheaper access to credit, as they have actions as a guarantee in this type of transaction. According to him, the possibility of injection of resources by an investor is not the only reason for adherence to this management model.
Paz has said that Fortaleza needs an experienced investor, with active participation in the club. The idea of the team is to sell a minority portion of SAF, of up to 20% of the shares – including barrier clauses that make it difficult to acquire control by an external investor. The club is inspired by the type of society established by Bayern Munich, where the team is the controller and sponsor brands have 25% of the shares.
The Ceará team has already signaled that they are ready to sell a slice of SAF this year. “Fortaleza is in the market from 2025,” said the current president of the club, Rolim Machado, in an interview with NORTHEAST DIARYin January this year.
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“We will treat this very well treated, we will not accept any kind of investment. Anyone who is going to invest in Fortaleza has to be a serious person to treat the club and the fans well, ”Machado told the newspaper.
Peace talks about SAF models in Brazil
Marcelo Paz has said that Fortaleza has no debts and financial health is a point of attraction for investors, even for the acquisition of a minority slice in the team. The club already works with an investment plan and already knows what to do with the resources, when they come: hire players to professional and base categories, enable team participation in competitions inside and outside Brazil and invest in structure.
SAF CEO is one of the participants of the “SAF Models in Brazil” panelpart of Sport & Business Summit programming. The event will kick the sport coverage of the sport by Infomoney And will be held next Tuesday (18), with coverage of the site itself. In addition to peace, the President of Santos, Marcelo Teixeira, and André Berenguer, partner of Tauá Partners, manager who manages the Portuguese SAF, participate in the panel.
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*With Estadão Content and other news agencies
