Home / brazil / President Fluminense returns to Europe for R $ 200 million operation for the club

President Fluminense returns to Europe for R $ 200 million operation for the club

Looking for investors to resolve the club's financial crisis, Pedro Abad, president of Fluminense, returned to Europe. He is in London, where he is trying to sell the club's civil and unemployed debt to an investment fund that can generate R $ 200 million in three-color suitcases.
The financial operation is not new in Brazil. By acquiring Flamengo in 2013, Chapa Azul has introduced financial market mechanisms to help the club heal its debts, which at that time amounted to more than $ 750 million.

Last year, the then vice-president of Finance Diogo Bueno of Fluminense obtained an investment fund from a national bank and raised investors for the purchase of civil and tax debts. The interest rate, he said, was 1.97%, below market value. But Pedro Abad considered the rate high at the time and promised to look for other financial institutions. Since then, nothing has been done in this regard.

The idea is, broadly speaking, to reduce the number of creditors and to extend the debt at least in the medium term, where it becomes affordable. If you can sell your debts for 50 million euros as you wish, Fluminense would have more time to pay and fewer people knock on the door for money. The club would then collect its civil and labor debts. The foreign fund would bring the values ​​down at the institutions and the Tricolor would have cash flow relief.

Flu then tried BMG. One of the club's creditors, the bank, who last year denied the deal to Bueno, is closer to the Tricolor in 2019. But not enough for a deal. That's why Abad was looking for one of the most influential players in European football and with a free path in the Laranjeiras: Giuliano Bertolucci. The businessman mediated the president's meeting with foreign bankers.

The Tricolor would give 50% of its divisions as a guarantee for private initiative, information provided by NetFlu and confirmed by EXTRA. In the case of the fund, conceived by Diogo Bueno, the counterweight would be four years of the amount of television to receive. Pedro Abad & # 39; s visits to England are no coincidence: in addition to looking for a large-scale financial contribution such as the sale of debts, he is trying to find ways to receive values ​​from the sale of John Peter to Watford.

Source link