Brazil's ANRESF reviews Vasco da Gama SAF sale to Marcos Lamacchia amid multi‑ownership concerns

Flamengo filed a request with Brazil's Agência Nacional de Regulação da Sustentabilidade do Futebol (ANRESF) to block the sale of 90% of Club Vasco da Gama's Sociedade Anônima do Futebol (SAF) to businessman Marcos Lamacchia. ANRESF notified Vasco to submit accounting and corporate documents for Almirante Participações, the company created by Lamacchia to conduct the acquisition, and will decide whether the transaction complies with the multi‑ownership and financial fair‑play rules established in the football sustainability regulation.

Lawyer and corporate‑law professor José Humberto argues that the Flamengo request is based on Lamacchia’s family ties – his father José Roberto Lamacchia and Palmeiras president Leila Pereira – which could constitute indirect influence over two clubs competing in CBF‑organized competitions, a situation prohibited by article 86 of the regulation and the Brazilian General Sports Law. The regulator’s assessment will determine if the deal proceeds.

The sale also requires additional approvals because Vasco is in judicial recovery. Authorization from the judiciary, the public prosecutor, creditors and resolution of arbitration matters are still pending. Lamacchia has pledged not to sell his stake or distribute profits for ten years and has pledged an investment exceeding R$ 2 billion.