Kactus Capital’s R$400 million proposal for SAF do Avaí goes to the board for a vote
Avaí Futebol Clube released this Tuesday the official proposal of R$400 million from Kactus Capital to acquire 90% of Sociedade Anônima de Futebol (SAF) from Leão da Ilha. The information was confirmed by the club’s president, Bernardo Pessi.
During a press conference in Ressacada, Pessi presented the details of the offer. According to the director, Kactus Capital’s initial commitment is to pay off all of Avaí’s current debt, which amounts to approximately R$290 million.
“We have an investment program that exceeds R$400 million. It is a significant amount, an unprecedented amount, comparable to the largest SAF deals in the country and, without a doubt, the largest ever seen in Santa Catarina. The proposal covers all of Avaí’s financial obligations today: judicial recovery, taxes, fiscal transactions, everything that accumulated last year and whatever is generated this year until the conclusion of the deal”, explained the president.
- R$75 million allocated to the Avaí sports project
- R$20 million for direct investment in the youth categories
- R$5 million reserved for the club’s infrastructure, including the training center and stadium
Additionally, Kactus Capital is committed to covering the club’s daily operational and maintenance costs.
“We were able to include in the proposal that Kactus guarantee a minimum salary sheet, adapted to the series in which Avaí is competing. For Series B, a value of R$2.5 million, plus taxes. And, if the club is in Series A, a salary of at least R$7 million, also with additional taxes”, detailed Pessi.
“There is also a contract that provides for an immediate bridge loan, which offers immediate financial peace of mind for Avaí’s urgent situations”, he added.
Guarantees and next steps in the transition to SAF
- Guaranteed participation of one third of the seats on the club’s board of directors
- Right to veto strategic decisions, such as changes to the club’s name, colors, anthem, stadium and host city
- Veto power over any other negotiations that Kactus Capital may attempt to carry out with third parties, whether for entry, exit or replacement of commercial partners
- Full guarantee of all Avaí assets, including Ressacada and the training center
Also this Tuesday, Avaí’s board of directors called a meeting of the Deliberative Council for June 30th, where the proposal to acquire SAF will be put to a vote. If approved, the offer will go on for deliberation by the Avaiano partners at a subsequent meeting.
The SAF proposal will only be approved and implemented after validation by both the Deliberative Council and the club’s members.
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“Throughout this period, we will continue to structure a vast set of contracts inherent to a negotiation of such magnitude, from the use of the stadium and the CT, negotiations related to the brand, to existing sponsorship contracts. We will take care of all ongoing agreements. The employees and the entire team that works at Avaí will be involved in this careful process, which encompasses numerous understandings linked to the main investment contract”, stated the president.
Additional details about the transaction and the club’s future
Avaí has been the target of several consultations on investments in SAF over the last five years. Since the creation of the SAF law, the club has received frequent approaches. Although other proposals came close, none of them were sufficiently ready to be presented to the Deliberative Council, or capable of guaranteeing the club’s interests. Currently, this is the only offer that meets Avaí’s needs.
Kactus Capital has already indicated that the financial resources are available and will be provided immediately after completing the necessary bureaucratic procedures and internal approvals.
The success of the venture will depend on the seriousness of the work involved. Even with investment progress, the club will maintain an active and vigilant role. “Nobody is going to simply hand over the keys to the club, turn their back and allow an investor to do whatever he wants,” emphasized Pessi.
Kactus Capital itself is interested in collaborative participation, as joint efforts are essential for proper functioning. The board does not intend to “sell dreams” to fans, but rather to guarantee safety, responsibility and hard work.
There is no expectation that Avaí’s representation in the SAF will be diluted. There are contractual guarantees of participation in the board of directors, in addition to an extensive list of decisions that depend exclusively on Avaí. The president will continue to represent the club in negotiations, ensuring that the voice of the institution and fans is heard and respected.
The R$5 million reserved for investments in infrastructure depends on the approval of a detailed plan by Avaí himself, as the assets remain under the ownership of the club. Any improvement to the property requires authorization from the board of directors.
“In my view, this amount will need to be increased, naturally, with the involvement of teams, architects and specialists in the field. We need to invest in our training center, especially in the medical, physiotherapy and athlete recovery departments. This physical structure for training is something we have observed in other Brazilian clubs and will certainly be the initial focus of this type of investment here at Avaí”, concluded Pessi.
