Avaí Football Club approves sale of 90% SAF stake for up to R$ 481 million

Members of Avaí Futebol Clube voted to approve the sale of 90% of the club's Società Anonima del Calcio (SAF). One proposal from Kactus Capital, described as a family‑office operating in Brazil since 2009, offered R$ 400 million, with a bridge loan of R$ 5 million and annual payments of R$ 25 million for the first three years to support football and infrastructure.

A competing offer from London‑based Racine LLC, backed by BTG Pactual, pledged R$ 481 million to eliminate all of Avaí’s debts, invest R$ 150 million in the professional squad over three years, provide R$ 36 million for youth development, guarantee minimum salaries of R$ 4 million per month, and fund stadium upgrades under a long‑term lease arrangement. Both proposals aim to create a professionally governed, financially stable SAF for the club.