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São Paulo City Hall and Jockey Club reach debt settlement and park agreement
The São Paulo City Hall and the Jockey Club have signed an agreement to settle a debt of approximately R$ 905 million. As part of the deal, the Jockey Club will transform a portion of its land into a public park. The club has already made an upfront payment of R$ 228 million to settle the debt, which included roughly R$ 500 million in property taxes (IPTU) and R$ 300 million in service taxes (ISS).
The new public park will occupy approximately 85,000 square meters within the Jockey's track area in the Cidade Jardim neighborhood. The project, expected to be delivered by October 1, 2028, will be supported by a R$ 100 million investment from the club and BTG Pactual. The infrastructure will include lakes, woods, sports courts, walking circuits, and areas for children and pets.
In addition to the public park, the partnership with BTG Pactual aims to modernize the Jockey Club facilities, including the restoration of the hippodrome and the addition of new leisure and gastronomic spaces. The club seeks to expand its social and sporting activities while maintaining traditional horse racing.
Entities
BTG Pactual · Jockey Club de São Paulo · Prefeitura de São Paulo · Ricardo Nunes · Vicente Renato Paolillo
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] The park is scheduled to be delivered by October 1, 2028. www.dgabc.com.br · www.moneyreport.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br
- [● 3 SOURCES] The debt included approximately R$ 500 million in IPTU and R$ 300 million in ISS. www.dgabc.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br
- [● 4 SOURCES] The club and BTG Pactual will invest approximately R$ 100 million in infrastructure. www.dgabc.com.br · www.moneyreport.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br
- [● 4 SOURCES] The Jockey Club paid R$ 228 million upfront to settle the debt. www.dgabc.com.br · www.moneyreport.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br
- [● 4 SOURCES] A public park of 85,000 square meters will be created on the Jockey Club's land. www.dgabc.com.br · www.moneyreport.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br
- [● 4 SOURCES] The Jockey Club and São Paulo City Hall signed an agreement to settle a debt of approximately R$ 905 million. www.dgabc.com.br · www.moneyreport.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br
- [● 2 SOURCES] The project includes the restoration of the hippodrome and new leisure areas. www.dgabc.com.br · tnonline.uol.com.br
- [● 4 SOURCES] The Jockey Club entered into a partnership with BTG Pactual to finance restructuring and investments. www.dgabc.com.br · www.moneyreport.com.br · tribunadepetropolis.com.br · tnonline.uol.com.br