Specialist evaluates sale of Cruzeiro to Ronaldo Phenomeno: ‘radical change’
One of the most traditional clubs in Brazilian football, and also the owner of a catastrophic financial crisis, Cruzeiro became, this Saturday (18), the first team in the country to adopt the SAF (Sociedade Anônima do Futebol) club-company model. Former player Ronaldo Fenômeno signed an agreement for R$ 400 million to buy the fox, acquiring 90% of the shares.
In an interview with Itatiaia, the lawyer specializing in sports law, Eduardo Carlezzo, analyzes this historic transaction for the world of national football.
“It’s a milestone for Brazilian football. In all aspects. Be it because of Cruzeiro’s size, Ronaldo’s name and for being the first entry operation for an investor in a SAF. It’s a paradigm shift. Brazilian football builds on that one of the most important steps for a radical change in the organization of the clubs. This will be just the first operation. Soon others should be announced”, said Carlezzo.
For the lawyer, the purchase of Cruzeiro by the former player, who is recognized worldwide, could put clubs in the country in the crosshairs of international investors. “This operation will have a very important weight as it will put Brazilian clubs on the international radar, something that until last year simply did not exist. Now, given the name Ronaldo has internationally, this will automatically attract investor attention to Brazilian football,” explained.
In the transaction, Ronaldo only acquires the football operation. The rest of the shares, 10%, remain in the property of the civil association. Cruzeiro currently has a debt of around R$960 million. According to the new statute, the investor’s initial contribution must be applied both to the civil association’s debts and to the qualification of the soccer team. For Eduardo Carlezzo, the investment of R$400 million will give “breath” to the celestial club for the next season, in 2022.
“Considering that Cruzeiro’s debt is over 900 million and the club is in a catastrophic financial situation, 400 million of investment is no small thing. The club will be able to get out of the mire and will immediately appear as one of the favorites to rise to series A next year,” he concluded.
