The Council presents a draft reform of the statute which provides the SAF to Corinthians

Investors will not be able to have majority control of the club, which will remain in the hands of members

The Deliberative Council of the Corinthians presented this Monday (27th) the draft reform of the statute which provides for the SAF. However, there are a number of requirements and limitations, such as that majority control remains in the hands of the members. Therefore, the project will have to be voted on in the Deliberative Council and in the General Assembly of members by the end of the year.

The transformation into SAF must be analyzed by the Steering Committee (Cori) and approved by the Deliberative Council. To be approved, therefore, the favorable vote of two thirds of the councilors will be needed. Furthermore, the project will also have to undergo an “independent audit and a formal technical and multidisciplinary due diligence process.

If approved by the Council and after verification, the project will be voted on by the members during the General Assembly. Therefore, the affirmative vote of two-thirds of the voting members will also be necessary. The president of the Deliberative Council, Romeu Tuma Júnior, explained that the two thirds necessary for approvals come from the total number of councilors and associates participating in the votes.

Finally, the project provides that investors will not be able to have majority control of the club. Corinthians will therefore hold 51% of the company’s share capital. Furthermore, at least 10% of the net revenue must be allocated to Corinthians. However, despite the project, the transformation into SAF encounters resistance from consultants and collaborators.

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Source: Terra

Rose

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