The meeting of the Board of Directors of Vasco SAF, scheduled for this Thursday, was postponed to next Tuesday, April 4th. The meeting will serve to realign the 2023 budget. the thing! reported that the early fall in the Copa do Brasil had a financial impactsince the projection was that Cruz-Maltino reached at least the quarterfinals, which would yield R$ 9.7 million in prize money.
Vasco SAF’s Board of Directors is made up of seven members. 777 Partners has five representatives: Josh Wander (chairman, co-founder and managing partner of the North American group), Andres Blazquez, Don Dransfield (CEO of 777 Footbal Group), Juan Arciniegas (director of entertainment at 777) and Steven Pasko (co-founder and managing partner of 777). Vasco has two members, the president Jorge Salgado and the 2nd deputy general Roberto Duque Estrada.
Information about the meeting was first reported by GE and confirmed by LANCE!. The report found that the reason for the postponement was a personal matter of one of the directors of 777 Partners. Among several subjects, the meeting will define how much Vasco can spend in the second transfer window, which opens on July 2nd and closes on August 2nd.
A contribution of R$ 120 million is foreseen for September, but this amount must be anticipated to help with hiring. In addition to this amount, the 777 Partners investment contract provides for the anticipation of the 2024 contribution, of R$ 270 million, for this year. However, this hypothesis is quite remote.
777 CONTRIBUTION FLOW UNTIL 2025
2022 – BRL 190 million (BRL 70 million from the bridge loan taken out in March + BRL 120 million in September)
2023 – BRL 120 million + the possibility of anticipating the 2024 contribution – BRL 270 million
2024 – BRL 270 million if not anticipated in 2023
2025 – BRL 120 million
PLANNING FINISHED UNTIL MAY
In addition to this meeting, a face-to-face meeting in Europe between Vasco’s director of football, Paulo Bracks, and executives from 777 Football Group is scheduled to take place by May. With the budget outlined, it will be possible to map the market in search of reinforcements.
Vasco announced 13 reinforcements, eight of which were purchased, committing R$ 108.1 million from the budget, since many negotiations were in installments. The initial planning foresees an expense of BRL 130 million in hiring, but the amount must change. The payroll is around R$ 7.5 million per month, but should reach R$ 10 million per month in the next window.
