Atlético-MG Council approves mall sale to reduce heavy debts | athletic-mg

Atlético-MG captured, on Monday, an important demonstration of unity and pacification in club politics today. Galo’s board of directors obtained approval for the sale of the remaining Diamond Mall, located in front of the club’s headquarters, in Belo Horizonte. At about 3:50 p.m. on Monday, the 280 votes needed to approve the sale were reached. Votes continue to count until Tuesday, at the times set by the announcement. There are 480 consultants in total.

The promise is that the millionaire amount will be fully utilized to reduce a significant percentage of the team’s heavy debt, which is now around R $ 500 million (gross). The next step now is to open negotiations with investors interested in buying the mall.

The club-owned shopping center, next to the headquarters, approved the sale-Photo: Marcelo Cardoso

With the agreement to implement the sale of the remaining 49.9% of the mall, the board now aims to get an amount of almost R $ 320 million for the asset- the first half (50.1%) was negotiations in 2017 for R $ 250 million, for the construction of the MRV Arena.

With the amount of cash, the promise of the alvinegra summit is to be able to reduce the amount between R $ 40 and R $ 50 million in annual debt losses due to interest, fees and penalties. In 2021 alone, according to data presented at the last Galo Business Day, Atlético will have to pay R $ 87 million.

– Good for Atlético’s financial health, to give more peace of mind to balance, with less interest to pay, to be able to focus more on the club’s own expenses. The next step is to work on the sale, not yet sell. We are waiting for this approval. There are investors who have expressed interest. Let’s talk – highlighted by Ricardo Guimarães, former president and member of the collegiate body that runs the club.

Leading the negotiations with the lenders was vice president José Murilo Procópio.

– I hope Dr. José Murilo had good luck in negotiations, he had a lot of ability to pay off our debts, very successfully, with good discounts. He is one of the most numerous lawyers in this area and I am sure he will succeed and make this money even more profitable – said President Sérgio Coelho.

José Murilo Procópio, Sérgio Coelho and Castellar Guimarães Filho, from Atlético-MG-Photo: Bruno Sousa / Atlético-MG

The vote was expected to have a definitive result only on Tuesday, but Galo got the required votes on Monday afternoon. Since this is the sale of a club asset, Atlético needs an absolute majority (twelve-thirds) of councilors to have approval. That is, 280 “yes” votes.

– Atlético are going through a very special time. This unity of the Council is all we want. Mission accomplished – featured Rubens Menin, a distinguished merit advisor and also a member of the collegiate body, on Galo TV.

Atlético-MG Council diamond sale vote-Photo: Bruno Sousa / Atlético-MG

Of all the votes recorded this Monday, only two were negative, those of councilors Adamastor Nascimento Machado and Hélio Caetano de Melo. In a press conference at the exit of headquarters, however, the two justified voting “no” in error.

– We did not vote no. I want to be straight. From the beginning we understood yes, but since I hadn’t read the correct text, I had vision problems, I ended up saying ‘no’. But my vote was ‘yes’ – justified by Hélio Caetano.

Although the result has already been set, the election must continue on Tuesday, until all 420 members of the Deliberative Council can register their votes.

Councilors vote “no” on Atlético -MG election error – Photo: Reproduction/Galo TV

“Let’s go Brasileirão! The biggest offer of games for a price that gives games. Sign the Premiere!”

Arena financial operations

In addition to selling the remaining percentage of Diamond Mall, Atlético consultants also approved another important item on Monday. It was a credit operation to advance R $ 200 million in Real Estate Receivables Certificate (CRI) to the club’s future home, Arena MRV.

Made available to the market, CRI can be used in the market to raise the amount needed to complete stadium works next year. The idea is to take receivables with cabins, captive seats and sponsorships in advance, from issuing bank bonds for sale. Recalling that Atlético is the sole shareholder of the Arena.

Arena do Atlético-MG completes two years of work-Photo: Reginaldo Morais/Arena MRV

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