Fluminense Weighs Billion-Dollar SAF Proposal

According to O Globo, Fluminense has received a formal offer from Lazuli Partners and LZ Sports to become a Sociedade Anônima do Futebol (SAF). The proposal has been submitted to president Mário Bittencourt, who confirmed it will be presented to the club’s board and members for review.

“We received the proposal today and will bring it forward for analysis by members and fans with the responsibility and respect that Fluminense and the tricolores deserve. We are living a decisive moment in the club’s history, and our only goal is to guarantee the right of tricolores to decide what is best for the present and the future of the institution,” Bittencourt said.

The plan involves an estimated 6 billion reais in investments over the coming years, ranging from new signings to the modernization of the Xerém training complex. One of the backers of the fund is André Esteves, owner of BTG bank.

Carlos de Barros, one of the main figures behind the project, stated: “I am extremely proud of the group of tricolores we brought together to make a robust financial contribution that will raise Fluminense to a level of competitiveness matching the legitimate demands of the fans. We are all aligned in building a SAF that, while honoring tradition, guarantees the competitiveness for Fluminense to be among the top three teams in Brazil.”

The agreement would allow the company to appoint both the CEO and the chief financial officer of the new SAF. Still, the plan will only move forward if approved by the club’s members, with a vote expected between December and January.