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Almirante Participações wins Vasco SAF auction

Updated 11 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-25 06:43 UTC → 2026-09-25 23:45 UTC · added removed

Almirante Participações wins Vasco SAF sale: Auction notice and legal disputes auction

The sale Almirante Participações, led by businessman Marcos Lamacchia, has been declared the winner of the judicial auction for 90% of Vasco da Gama’s SAF shares to investor Marcos Lamacchia, via Almirante Participações, has entered a competitive bidding phase. Because the SAF is under judicial recovery, a direct sale is prohibited, necessitating a public auction to ensure transparency. Lamacchia is currently acting shares. Having acted as a ‘Stalking Horse’ by setting a base price for the transaction, which ‘stalking horse’ bidder, Lamacchia’s proposal was upheld after no other competing offers were formalized. The judicial decision was ratified on September 25 in Rio de Janeiro. The total transaction is valued estimated at over approximately R$ 2 3 billion. Vasco da Gama has released the updated auction notice and confidentiality agreement (NDA) for the judicial sale of UPI Equity. This sale includes federative rights, athlete and coaching staff contracts, commercial contracts, sponsorships, and intellectual property. A key requirement of the deal is a mandatory The investment of plan mandates R$ 500 million into for the football department, structured as to be paid in annual installments of R$ 100 million in annual contributions between 2026 and 2030, which must be used exclusively for football operations. The auction is scheduled to take place in Rio de Janeiro, with Almirante Participações remaining the sole interested party. However, legal complexities have emerged as a judge recently reinstated strict prohibition on using these funds to settle old debts. Additional commitments include R$ 120 million for the seizure training center over ten years and R$ 30 million for youth categories over two years. To ensure institutional stability, the agreement prohibits the sale of shares related to and the former Vasco SAF in favor distribution of Matix Capital to prevent the ‘economic emptying dividends for a period of the seized shares’ during the sale. While 10 years. Despite the auction has not been suspended, experts suggest the final transfer of assets may face hurdles. Additionally, victory, the transaction sale is not finalized. It remains under scrutiny subject to approval by Vasco’s Deliberative Council and an Extraordinary General Assembly. Furthermore, the National Agency for Regulation and Sustainability of Football (Anresf) regarding continues to investigate potential conflicts of interest, and any successful bid remains subject to approval by Vasco's Deliberative Council and Extraordinary General Assembly. noting that Lamacchia is the stepson of Palmeiras president Leila Pereira.

Versions

  1. 2026-09-25 23:45 UTC Almirante Participações wins Vasco SAF auction
  2. 2026-09-25 06:43 UTC Vasco SAF sale: Auction notice and legal disputes
  3. 2026-09-12 04:13 UTC Vasco SAF sale: Auction notice released and investment terms
  4. 2026-09-10 20:21 UTC Vasco SAF sale: Prosecutor supports Lamacchia proposal
  5. 2026-08-31 03:33 UTC Vasco SAF sale enters auction phase amid judicial audit
  6. 2026-08-29 01:45 UTC Vasco SAF sale enters auction phase amid judicial audit
  7. 2026-08-25 05:35 UTC Vasco SAF sale advances amid R$ 2bn bid and management row
  8. 2026-08-24 21:24 UTC Vasco SAF sale advances amid liquidity crisis and audit
  9. 2026-08-23 20:18 UTC Vasco SAF sale advances amid liquidity crisis and audit
  10. 2026-08-18 02:28 UTC Vasco SAF sale faces liquidity crisis and judicial audit
  11. 2026-08-11 20:25 UTC Vasco SAF sale faces regulatory and competitive scrutiny
  12. 2026-08-05 22:32 UTC Vasco SAF sale under legal and sporting pressure

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