777 Partners completes transaction and transfers BRL 120 million to SAF do Vasco

777 Partners completes transaction and transfers BRL 120 million to SAF do Vasco
777 Partners completes transaction and transfers BRL 120 million to SAF do Vasco

The sale of 70% of Vasco’s assets to 777 Partners was completed today (2). With this, the North American company takes control of Cruz-Maltino football. It should be noted that Josh Wander made the first contribution and the R$ 120 million is already in the account of Vasco’s Sociedade Anônima do Futebol (SAF).

777 has control of 70% of the shares of Vasco da Gama SAF, while the club 30%. From now on, the North American company will have to invest R$ 700 million in SAF. Of this amount, R$ 70 million were invested in March, totaling R$ 190 million in investments.

Check out the official note released by Vasco

A historic day for Vasco da Gama. On September 2, 2022, Club de Regatas Vasco da Gama and 777 Partners completed the transition of Vasco da Gama SAF, with the signing of the final agreement for the sale of 70% of the company’s shares to 777 Partners, and the transfer of the first installment of resources. As a result, today the North American group effectively took over the corporate control of Vasco da Gama SAF, after complying with the conditions established in the binding investment agreement entered into between the parties on June 25, 2022, which was approved by the partners of CRVG meeting in General Assembly on August 7th.

Under the transaction, 777 Partners will invest R$700 million in Vasco da Gama SAF, which will assume up to R$700 million in debt from CRVG.

Negotiations began in February of this year, with the signing of the memorandum of understanding between the president of CRVG Jorge Salgado and the founding partner of 777 Partners Josh Wander, and were appreciated by the Deliberative, Meritorious and Fiscal Council of the club, in addition to two Meetings Extraordinary General Meetings, with the broad approval of the club’s statutory members, and were successfully completed.

President Jorge Salgado, general vice presidents Carlos Roberto Osório and Roberto Duque Estrada, legal vice president José Cândido Bulhões and finance vice president Adriano Mendes participated in the closing meeting of the deal, through CRVG. At 777 Partners were Don Dransfield, CEO of 777 Football Group, Nicolás Maya, operations manager, and Luiz Mello, CEO of Vasco da Gama SAF. Vasco da Gama was represented in the transaction by KPMG and BMA Advogados and 777 Partners by Campos Mello Advogados.

Negotiations began in February of this year, with the signing of the memorandum of understanding between the president of CRVG Jorge Salgado and the founding partner of 777 Partners Josh Wander, and were appreciated by the Deliberative, Meritorious and Fiscal Council of the club, in addition to two Meetings Extraordinary General Meetings, with the broad approval of the club’s statutory members, and were successfully completed.

President Jorge Salgado, general vice presidents Carlos Roberto Osório and Roberto Duque Estrada, legal vice president José Cândido Bulhões and finance vice president Adriano Mendes participated in the closing meeting of the deal, through CRVG. At 777 Partners were Don Dransfield, CEO of 777 Football Group, Nicolás Maya, operations manager, and Luiz Mello, CEO of Vasco da Gama SAF. Vasco da Gama was represented in the transaction by KPMG and BMA Advogados and 777 Partners by Campos Mello Advogados

The article is in Portuguese

Tags: Partners completes transaction transfers BRL million SAF Vasco

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