Urubu President Questions Crefisa Loan to Vasco

Flamengo President Criticizes Financial Dealings Between Crefisa and Vasco

Flamengo Raises Concerns Over Crefisa Loan to Vasco

In a recent meeting of Flamengo’s Deliberative Council, President Bap expressed concerns about Crefisa’s significant involvement in Brazilian football, particularly highlighting an R$ 80 million loan to Vasco da Gama. He suggested that Leila Pereira, the president of Palmeiras and Crefisa, has a distinct agenda given the financial dealings with Vasco.

Discussion on Financial Fair Play in Brazil

During the council meeting, Bap mentioned the issue of Libra and questioned Crefisa’s influence. He pointed out that around 20% of Vasco’s SAF (Sociedade Anônima do Futebol) shares were used as a guarantee for this loan, a figure that eventually reduced to 10%, despite not being a tangible asset.

Comparisons with Atlético-MG’s Financial Restructuring

Bap also compared Vasco’s situation to Atlético-MG, whose debt was converted into shares, leading to the club’s purchase by the Menin family. He argued that such financial agreements should be scrutinized as Brazil attempts to enforce Financial Fair Play rules.

Response from Vasco

In response, Vasco denied any negotiations regarding the sale of its SAF to Crefisa, countering the claims made during the council meeting.

This development has sparked discussions about transparency and regulation in Brazilian football, with stakeholders calling for clearer guidelines on financial transactions to ensure fair practices.

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