Pessoas próximas à 777 Partners confirmam negociação para aquisição de 70% da SAF do Vasco
Segunda-feira, 21/02/2022 - 13:28
777 Partners LLC is finalizing its acquisition of Vasco da Gama, people familiar with the matter said, in what will be one of the highest-profile takeovers of a Brazilian football team since the country's national sport opened up to foreign investors.
The Miami-based investment firm plans to acquire 70% of Vasco da Gama in a deal that will value the club at about $330 million, including debt, the people said, asking not to be identified discussing confidential information.
A deal could be announced as soon as the coming days, the people said. Talks between 777 and Vasco da Gama were first reported by Bloomberg News in January.
Vasco da Gama said last week that its president, Jorge Salgado, would be traveling abroad for 15 days to meet with potential investors. Representatives for 777 and Vasco da Gama declined to comment.
The deal would come after legislation passed last year allowing Brazil's clubs, which have historically been run as non-profit associations, to restructure as limited liability companies, overhaul ownership and modernize finances.
Rio de Janeiro-based Vasco da Gama is one of Brazil's best-supported clubs, where some of country's best players, including World Cup winner Romario de Souza Faria and English Premier League star Philippe Coutinho, have played.
Like many teams in Brazil, it's saddled with sizable debt. 777 is betting that new management and a fresh injection of cash can help make the storied club profitable again.
New Money
From afar, Latin America's most populous nation is a football paradise, with passionate fans and some of the world's best players. The country has brought home five World Cup titles, making Brazil the most successful international team in history.
But the country's professional clubs have been run poorly and taken on too much debt, problems exacerbated by the financial impact of the Covid-19 pandemic.
777 isn't the only investor trying to turn things around.
In January, Florida-based digital entrepreneur John Textor bought Botafogo, another Rio club, for some $330 million. The previous month, legendary Brazilian striker Ronaldo Luis Nazario de Lima took a controlling stake in Belo Horizonte's Cruzeiro, where he started his professional career.
777, which has built a portfolio of sports assets that includes streaming services and investments in British basketball, targets undervalued businesses with deep connections to fan bases, according to its website.
Its football stable already includes two of Europe's most historic clubs: Genoa Cricket and Football Club in Italy and Spain's Sevilla FC.
Fonte: Blomberg
The Miami-based investment firm plans to acquire 70% of Vasco da Gama in a deal that will value the club at about $330 million, including debt, the people said, asking not to be identified discussing confidential information.
A deal could be announced as soon as the coming days, the people said. Talks between 777 and Vasco da Gama were first reported by Bloomberg News in January.
Vasco da Gama said last week that its president, Jorge Salgado, would be traveling abroad for 15 days to meet with potential investors. Representatives for 777 and Vasco da Gama declined to comment.
The deal would come after legislation passed last year allowing Brazil's clubs, which have historically been run as non-profit associations, to restructure as limited liability companies, overhaul ownership and modernize finances.
Rio de Janeiro-based Vasco da Gama is one of Brazil's best-supported clubs, where some of country's best players, including World Cup winner Romario de Souza Faria and English Premier League star Philippe Coutinho, have played.
Like many teams in Brazil, it's saddled with sizable debt. 777 is betting that new management and a fresh injection of cash can help make the storied club profitable again.
New Money
From afar, Latin America's most populous nation is a football paradise, with passionate fans and some of the world's best players. The country has brought home five World Cup titles, making Brazil the most successful international team in history.
But the country's professional clubs have been run poorly and taken on too much debt, problems exacerbated by the financial impact of the Covid-19 pandemic.
777 isn't the only investor trying to turn things around.
In January, Florida-based digital entrepreneur John Textor bought Botafogo, another Rio club, for some $330 million. The previous month, legendary Brazilian striker Ronaldo Luis Nazario de Lima took a controlling stake in Belo Horizonte's Cruzeiro, where he started his professional career.
777, which has built a portfolio of sports assets that includes streaming services and investments in British basketball, targets undervalued businesses with deep connections to fan bases, according to its website.
Its football stable already includes two of Europe's most historic clubs: Genoa Cricket and Football Club in Italy and Spain's Sevilla FC.
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Fonte: Blomberg
