The Fluminense Football Club is moving forward with significant strides in its venture to establish a Sociedade Anônima do Futebol (SAF). Recent developments indicate that BTG Pactual has signaled a readiness from interested investors to submit proposals. While the process is not yet complete, the club is taking the matter very seriously to avoid potential pitfalls that other clubs have encountered. Here’s what you need to know about this important project.

Fluminense Treats SAF with Extensive Cautiousness

Internal discussions and careful planning are key to the Fluminense’s approach. The club’s board of directors has formed task forces to analyze all incoming information. This proactive stance highlights a commitment to thorough deliberation before making any final decisions.

Mário Bittencourt, President of the Fluminense, leads this initiative alongside Vice General Mattheus Montenegro and Vice Financial Paulo Todaro. These leaders are taking swift steps to ensure all discussions are transparent. They will present the formalized proposal to the board of directors and eventually to the club’s shareholders for informed decision-making.

Fluminense Shareholders Will Have a Say

The process is designed to involve all stakeholders. Once proposals are in hand, the club’s Finance and Deliberation Boards will review the terms. Following this, a Special Extraordinary Shareholders’ Meeting will be held to vote on the proposal. A majority consent is essential to proceed with the transfer of control to the new shareholders.

Bittencourt initially aimed to retain significant control of the football operations, but recent decisions suggest a willingness to transfer over 50% of the new SAF. This shift signals a broader approach to financial and operational partnership, akin to the collaborative model formed with the Flamengo to manage the Maracanã stadium.

The Future of Fluminense SAF

The creation of a SAF is a pivotal moment for the club, signaling a strategic shift toward financial stability and operational efficiency. By engaging with investor interest and rigorous internal analysis, the Fluminense is setting the stage for a future where new investments can enhance both the sports performance and the financial health of the organization.

As the Fluminense moves forward, its cautious and democratic approach to the SAF process sets a strong example for Brazilian football clubs navigating complex financial terrain.

Stay tuned for further developments as this significant project progresses.