Negotiations between Qatar and Santos of Brazil advance

Negotiations between Qatar and Santos of Brazil advance

Since April, when Neymar returned to his home club to watch the match between Santos and Audax Italiano, the versions about the possible strategic alliance between the Brazilian club and Qatar Sports Investments. These negotiations have been carried out between Neymar’s father, as an intermediary, the president of Santos, Andres Rueda, and the president of the Parisian club Nasser Al-Khelaifi.

As is known, the Brazilian club is going through serious financial problems, which has plunged the institution into a financial and sports crisis from which it does not seem to be able to get out alone. It is in this critical context that the authorities are looking for a partner that will provide the necessary financial resources to rescue the club. The president Andrés Rueda explains that the project is to create a new company model that is not a Public Limited Company but rather provides for a contribution of money from a minority shareholder in order to be able to face a debt of approximately 100 million Euros, according to the consultant’s estimate. Ernst & Young.

The landing of Arab capital in Brazilian soccer is linked to the transformation of the Brasileirao and many of the clubs in this league that need to modernize their business format to boost competitiveness. In the case of Qatar Sport Investiments, the objective is to invest in Santos, but the main difficulty that the negotiators are facing is that the change to a club, a company that proposes to maintain 51% of the shares, is a business model that would not convince the holding company. from Qatar. Apparently, the Qataris are looking for greater control of the club and according to reports they would have offered around 130 million euros. In addition, they would be evaluating the purchase of the “Pelé” brand to associate it commercially and use it as a strategy for the global relaunch of the club.

At the moment, the negotiations continue and their outcome is accelerating, so the future of this historic Brazilian club will be decided very soon.

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