Atlético-MG has more than 200 votes in favor of the sale of the shopping center; Less than 80 left to accept sports-mg

Atlético-MG has already surpassed the first half of its goal to sell the remaining 49.9% of the Diamond Mall shopping center, opposite the club’s headquarters in Belo Horizonte. In less than 6 hours of voting, more than 200 councilors have already voted in favor of the agenda. Of the 420 members of the Deliberative Council, 280 “yes” votes are required for approval.

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Elections will be extended until 18:00 this Tuesday, but it is expected that the club will get the required number this Monday. Voting is also done over the Internet, so the movement at Galo’s headquarters was timid during the morning. There were a few dozen fans to follow the election.

Among the counselors in attendance was former club president Sergio Sette Câmara. The President of the Deliberative Council, Castellar Guimarães Filho, also visited the Lourdes headquarters.

It is the promise of the management of Atlético, with the sale of the rest of the mall (the first part was sold to build the MRV Arena), that the club will be able to get rid of the huge debt (interest) around R. It grossed $ 500 million gross and lost BRL 87 million in 2021 alone.

The value of 49.9% of Diamond Mall is yet to be determined, but according to a study by Atletico, it is around R $ 300 million / R $ 350 million.

Atletico-MG decides to sell club-owned shopping mall – Photo: Marcelo Cardoso

Atlético’s internal financial valuation made it urgent to sell the rest of the mall. The board of directors of Galo is in favor, as is the collegiate body of the 4 Rs.

– We are about to get permission from the council. Let’s get it. The sale will not be difficult, the funds are interested. These amounts will be received from 49.9% of Diamond Mall sales. That money will be stamped to pay off the passionate debts. It will be very important, perhaps because we will reduce the interest rate by R $ 40 million per year, ”said President Sérgio Coelho in an interview with journalist André Hernan.

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

Atletico-MG fans continue to vote for sales at the mall – Photo: Marcelo Cardoso

A study commissioned by the club’s management and sent to consultants shows that Diamond Mall has a capacity to raise R $ 300 million in the club’s coffers, with a variation of approximately 10%.

In 2017, Atlético sold 50.1% of Diamond for R $ 250 million to Multiplan, a company that has run the mall since its inception. At the end of the operation, Galo received R $ 296 million from that first sale, fully invested in MRV Arena.

The remaining 49.9% would still have the potential to generate BRL 55 million in debt reduction, through debt renegotiation, in addition to another BRL 120 million in “financial gains”, which is how much interest Gallo would leave unpaid by 2021. and 2026.

In addition to approving the sale of the rest of the Diamond Mall, the City Council will also vote on another agenda this Monday, which is also unanimous so far. Arena is an attempt by MRV to approve the board of directors for the banking operation.

According to management, the operation aims to get recoverables (cabinets, captive seats, protections) faster and thus ensure the completion of the stadium works. So far, all the votes of the management have been in favor of the operation.

Arena MRV – Photo: Pedro Souza / Atlético-MG

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