Vasco and 777 Partners wrap up SAF – Club de Regatas operation Vasco da Gama

By: Marcos Vinicius Pinto, Press Office / Vasco da Gama

70% of the shares of Vasco da Gama SAF were sold in conjunction with the signing of contracts and the transfer of funds

Photo: João Pedro Isidro / CRVG

Historic day for Vasco da Gama. On September 2, 2022, Club de Regatas Vasco da Gama and 777 Partners completed the transfer of Vasco da Gama SAF, with the signing of the definitive agreement to sell 70% of the company’s shares to 777 Partners, and transfer the ownership of the first batch of resources. As a result, the North American group has today de facto control of Vasco da Gama SAF, after complying with the terms set out in the binding investment agreement concluded between the two parties on 25 June 2022, which was approved by the CRVG meeting partners at the 7 August AGM.

Under the deal, 777 Partners will invest R$700 million in Vasco da Gama SAF, which will take on up to R$700 million in debt from CRVG.

Photo: João Pedro Isidro / CRVG

Negotiations began in February of this year, with the signing of the Memorandum of Understanding between CRVG President Jorge Salgado and 777 Partners co-founder Josh Wander, and was appreciated by the Club’s Advisory, Merit and Tax Board, as well as two extraordinary meetings of the meeting, with broad approval from the club’s legal members, and were successfully concluded .

President Jorge Salgado, Vice President General Carlos Roberto Osorio, Roberto Duque Estrada, Vice President Legal José Candido Polhes, and Vice President Finance Adriano Mendes participated in the closing meeting of the transaction, through CRVG. At 777 the partners included Don Dransfield, CEO of the 777 Football Group, Nicholas Maia, Director of Operations, and Luis Mello, CEO of Vasco da Gama SAF. Vasco da Gama was represented in the deal by KPMG and BMA Advogados and 777 Partners by Campos Mello Advogados.

Photo: João Pedro Isidro / CRVG