Four years after the creation of the SAFs Law, more than 120 Brazilian clubs have already adopted the new business model in search of professional management and debt relief. In this scenario, a group of influential Corinthians fans saw the opportunity to propose a structural change at the clubinspired by Bayern Munich and with a difference: the owner would be the fans themselves. The project was named SAFiel, a direct reference to Fiel’s nickname.
The idea arose after the launch of the fundraiser aimed at paying off the debt of R$650 million with Caixa Econômica Federal, relating to Neo Química Arena. The businessman Carlos Teixeirafrom the telecommunications sector and creator of SAFiel, participated in a meeting with the main donors in February this year. The objective was to discuss real ways to help Corinthians, without political interests.
While part of the participants defended changes to the club’s policy, another group saw the SAF as a chance for transformation – an alternative previously rejected internally, on the grounds that good management and collection of R$1 billion per year could contain the debt of R$2.7 billion.
Alongside businesspeople Mauricio Chamati, Eduardo Salusse e Lucas BrasilTeixeira structured the project, which gained strength among fans and visibility in the press. The turning point came in October, when the group presented the proposal to President Osmar Stábile.
– SAFiel will have an owner, yes, but it will be the Corinthians fans. Our motto is “the society of the people” – explained Teixeira, in an interview with the newspaper “O Estado de S. Paulo”.
Unlike the SAFs of Botafogo, Cruzeiro, Vasco and Atlético-MG, controlled by majority investors, SAFiel proposes a limited liability company model with shares distributed among fans, guaranteeing a popular and decentralized base.
SAFiel: project structure
The plan envisages the creation of the holding company Invasão Fiel, formed by fans who will be able to acquire shares in different investment ranges. This holding company would be the controlling shareholder of Corinthians’ SAF, while the associative club would maintain a stake proportional to the assets it contributed, after discounting debts.
– We don’t want Corinthians to lose anything. The club contributes its assets; the fan, with capital and governance. It is a model that preserves identity and guarantees independence and professionalism – summarizes Teixeira.
To design the legal model, the group hired the Monteiro de Castro office, led by Rodrigo de Castro, one of those responsible for drafting the SAF Law. The opinion confirmed that the proposal meets all legal and regulatory requirements.
– Invasão Fiel will be a SA registered and supervised by the CVM, with total transparency and no shortcuts – highlights the creator.
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SAFiel: inspiration at Bayern
The model is based on the structure of Bayern Munich, balancing professional management and popular participation. The ambition is to reach 1 million shareholder-supporters, double the number of members of the German club.
The shares would be accessible even to those without a brokerage account and divided into three categories:
- Popular – For low-income fans, with symbolic membership fees;
- Broad retail – Aimed at small and medium investors;
- Professional investors – For contributions over R$1 million, distributed by banks and brokers.
– No one will be able to concentrate power. There will be a statutory limit to prevent a new owner. We want a club made up of millions, not one made up of billionaires – says Teixeira.
Governance would be composed of four bodies: Board of Directors, Fiscal Council, Cultural Council and Governance Committee. The first two would have a majority of independent and paid members, with no political ties to the club.
The executive structure would follow corporate standards, with an autonomous CEO, directors hired from the market and clear performance goals. A provisional governing body will be presented before the opening of fundraising.
– It is impossible to become professional without professionals. We will have market executives, goals and accountability. It’s time to separate passion and management – reinforces the businessman.
Teixeira also warns:
– The debt grows by R$1 million per day. The problem isn’t the box, it’s the model. SAFiel is a refoundation, a structural turnaround to transform Corinthians into a modern, armored corporation.
SAFiel: internal resistance and popular support
The proposal faces resistance in Parque São Jorge, mainly from traditional sectors that fear the loss of identity. Teixeira counters:
– Today the club belongs to a few directors. SAFiel wants to return him to the fans.
The recent political crisis reinforces the reformist appeal. Scandals involving Andrés Sanchez, Duílio Monteiro Alves and the impeachment of Augusto Melo following allegations of corruption increased the pressure for change. Organized fans also ask for a review of the statute and greater popular participation.
The meeting with President Stábile was seen as an important step. According to Teixeira, the director was receptive and suggested incentives for small shareholders. Since then, the group has intensified dialogue with advisors and influencers linked to the club.
– Our project is non-partisan. We are not selling Corinthians, we are proposing that it be transformed – summarizes the creator.
SAFiel: next steps
The official launch of SAFiel is scheduled for October 28th, at the Football Museum, in Pacaembu. The event will bring together fans, investors and experts in sports management to present the model and begin symbolic fundraising.
– Mass clubs like Corinthians and Flamengo would hardly accept traditional SAFs. What we propose can also inspire São Paulo and Palmeiras. It’s a new path for Brazilian football – concludes Teixeira.
Carlos Teixeira: story of the businessman
Carlos Teixeira is a businessman in the technology sector and graduated in Telecommunications from the Federal Technical School of São Paulo. At the age of 19, he founded the company he still runs today and, over 30 years, transformed it into one of the main references in the segment in Latin America. Between 2013 and 2015, he attended OPM 47 at Harvard, a management program for company owners and presidents.
Currently, in addition to serving on the board of two technology companies, he manages a portfolio of family investments. Married for 31 years and father of two children, he is a passionate Corinthians.
There is no public information or official estimates about Carlos Teixeira’s fortune. The businessman maintains discretion regarding his personal assets, and no data on values or assets has been disclosed in financial sources or official records.
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