The Investment Manager SOD Capital communicated to Vasco that intends to exercise the option to buy the constructive potential of the São Januário. The club has two sales intention contracts that together allow you to negotiate 100% of the constructive potential to make the stadium reform viable. The values involved exceed R $ 500 million, initially estimated by the Vasca Board at the beginning of the negotiations.
SOD Capital has confirmed that it will exercise the purchase option when Vasco finalizes the transfer term of the constructive potential with the City Hall. Now, the club awaits the release of the term to adjust the latest details and make the sale.
The genius bank operates as a partner in the organization of the process, and the board is optimistic with advances for the long -awaited renovation of St. Januario.
The club has 280,000 m² available for negotiating constructive potential. Of these, 250 thousand m² are intended to sell with one company and the other 30 thousand m² with another. If the sale is made after the formalization of the specific purpose company (SPE), the club would complete the commercialization of 100% of the potential, with an estimated price of about R $ 2 thousand per m², totaling more than R $ 500 million.
Vasco has also maintained conversations with the company of businessman Roberto Medina, creator of the Rock in Rio Festival, for future projects at the stadium. With several developments in the city, the company emerges as a possible club partner.
The constructive potential indicates the amount of area that can be built on a land, respecting the zoning rules of the municipality. Each city has a master plan that establishes the guidelines for construction in different regions.
In the case of São Januário, the terrain is large and has a high constructive potential, but a stadium does not require all this capacity. Negotiation with City Hall seeks to allow this potential surplus to be transferred to other locations in the club.
According to Rio de Janeiro, the transfer of the right to build (TDC) is the instrument that allows the owner of a lot to use its constructive potential on another land, sell it to third parties or give in to the public power.
It is expected that the works start in December and end in 2027, when Saint Januario turns 100. The stadium will have completely new facilities.
🚨 São Januário today // São Januário Post Reform
🔥🔥🔥🔥 pic.twitter.com/XVuRzgZ0Jp
– ✠ Vasco✠ Staging (@estagiariovasco) September 13, 2025
SOD CAPITAL: Company details
SOD Capital is an independent alternative investment manager, founded in 2021 and based in Rio de Janeiro, specifically in the Leblon neighborhood. The company stands out for adopting a strategic approach focused on value creation and active management of assets, with a long -term vision and commitment to the results.
SOD Capital operates in three main investment areas:
- Participations: Acquisition of relevant participation in companies with growth potential, aiming to influence management or acquire control.
- Real Estate: Specialization in real estate development projects, including residential, commercial, corporate slabs and malls.
- Credit: Strategic financing supply for selected companies and projects, offering disruptive solutions.
These strategies are sustained by a rigorous portfolio management process, which covers from the origination of opportunities to continuous investment monitoring.
SOD CAPITAL: Corporate data
- Full Name: SOD CAPITAL LTDA.
- Owner: Wilson Borges Pereira Room
- Responsible Director: Sérgio Fonseca Poppe de Figueiredo
- Net worth: R $ 1.22 billion
- Funds under management: Two active funds, being Klimt Fi Finance with R $ 1.15 billion and EAN FINAL CP RL with R $ 62.43 million
SOD CAPITAL: Projects and partnerships
SOD Capital has been excelled in the carioca real estate market. Recently, the company has acquired the former Hotel Marina All Suites in Leblon, with plans to turn it into a high standard venture.
The manager also recently acquired the Carj building, an administrative center located in central Rio de Janeiro, which had been 100% vacant since May 2023. The property was acquired for R $ 65 million, with cash payment within 16 months. SOD Capital plans to develop a real estate development on site.
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