Vasco da Gama advances SAF sale amid liquidity crisis

Vasco da Gama is navigating significant financial and structural transitions. The club's SAF (Sociedade Anônima do Futebol) is moving toward a sale of 90% of its shares, with businessman Marcos Lamacchia emerging as the likely buyer. The sale has received a positive preliminary opinion from court-appointed watchdog Athos Neves, though it still requires approval from the judicial administrator, the Public Ministry, and a judge. Lamacchia, CEO of Blue Star and heir to a significant financial fortune, holds a contractual preference in the upcoming bidding process.

Financially, the club faces an urgent liquidity crisis. Vasco has informed the court that its cash reserves may be exhausted by August 20, projecting a R$ 300 million deficit for 2026. To mitigate this, the club is seeking authorization for new DIP (Debtor-in-Possession) financing, potentially totaling up to R$ 150 million through Almirante Participações e Empreendimentos. These funds are intended to cover essential costs, including salaries, taxes, and judicial recovery obligations.

On the sporting front, Vasco is pursuing the signing of defender Diego Carlos from Fenerbahçe. While the player has expressed interest and agreed to salary terms, the club is only willing to proceed if he can join on a free transfer, as they are reluctant to pay high fees for a 33-year-old with a recent injury history. Meanwhile, the CBF agency is reviewing a potential conflict of interest regarding the Lamacchia-Vasco deal to ensure compliance with Fair Play regulations.