Atlético-MG becomes SAF after Board approval; see values

Council votes had 98% approval this Thursday

July 20th
– 22:35

(updated at 10:35 pm)

Club had its sale approved this Thursday

Club had its sale approved this Thursday

Photo: Pedro Souza/Atlético / Sport News World

Now it’s official! Atlético-MG completes the trio of the main clubs in Belo Horizonte as a SAF (Sociedade Anônima do Futebol) and agreed to sell 75% of its rights to the “Galo Holding” composed of the 4R’s (Rubens and Rafael Menin, Ricardo Guimarães and Renato Salvador). The other 25% stay with the association.

The sale was approved by the club’s Deliberative Council, in a vote held at Lourdes headquarters this Thursday (20). The rest of the votes ends on Friday, but only on the first day was enough to reach the necessary amount: 273 votes.

Atlético was already managed by the group of investors, now it will be done in the business model. The proposal consists of an initial contribution of BRL 600 million and a 100% write-off on loans taken out by entrepreneurs (BRL 313 million). In addition, SAF will assume all of the association’s debt, which is currently in BRL 1.8 billion.

The MRV Arena and Cidade do Galo (training center) will also be part of the deal and will be 75% owned by SAF. Vila Olímpica and Labareda, which are Atlético’s social clubs, in addition to the Pampulha mansion and the administrative headquarters building in Lourdes, remain intact for the association.

Galo Holding, led by Atlético’s ‘patrons’, will hold about 78% of the shares, while the remainder will be divided between two private investment funds and participations. 11% will go to a private fund and the other 11% to “FIGA”, which will have the participation of fans of the club.

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