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The Bahia Council has unanimously approved the agreement with Banco Opportunity

The Deliberation Council of Bahia approved it unanimously agreement between the membership and Banco Opportunity To finish the course of wherein the monetary establishment collects about R$ 116 million for the dissolution of Bahia S/A carried out in 2006, it was examined this Thursday night time (28). a gathering, and obtained optimistic suggestions.

In the contract, it was agreed that the Squadron would pay R$ 35 million. Chances are nearly 70% lower than what was requested in court docket. The Bahia membership may have seven years to repay the debt. The first contribution will likely be R$ 416,666.67, and have to be made inside three working days of the Council’s approval.

With the deal, Bahia will likely be free to proceed negotiations with City Group for a attainable sale of Sociedade Anônima do Futebol (SAF) shares. One of the renegotiation clauses with Opportunity gives that in the occasion of a SAF, and in consequence, upon the arrival of an investor, there will likely be an obligation to prepay all excellent charges.

At this Thursday’s assembly, the councilors adopted the opinion given by the membership’s Fiscal Council, and approved the phrases of the contract. The group, nonetheless, insisted that Bahia should comply with the agreement to keep away from new fines, pursuits and violations of the provisions, which might worsen the present monetary scenario of the Squadron.

After dialogue of the points, the doc was voted on and unanimously approved.

For President Guilherme Bellintani, the decision of the confusion surrounding Opportunity means closing the cycle of paying Bahia’s historic money owed. He talked about labor money owed, the lawsuit introduced by BWA and the renegotiation of public money owed by way of PERSE.

“Today we suggest to shut the fee of the debt. I’m speaking about 4 points: labor money owed, that are removed from being settled, however that are presently secured by an immovable property which is Fazendão. We have been in a position to renovate or open one coaching middle with out promoting the different, so by way of market worth it’s equal to the worth of the work debt, which served to renegotiate the Judgment. Regarding the labor debt, though it isn’t paid, it’s balanced from a monetary perspective”, he defined.

“The debt of BWA, which is totally settled, now we have already offered an agreement that led to the fee of greater than R$ 20 million. It can also be a historic debt, created in 2011. PERSE, which resulted in a big discount in public debt. And the alternative to renegotiate this large downside now we have now, which is the dispute with the Opportunity financial institution”, he added.

Opportunity’s lawsuit in opposition to Bahia started in 2016. In the case, the financial institution alleges that in 2006, throughout the administration of Petrônio Barradas, the tricolor made an agreement for the dissolution of the firm with Bahia S/A, a membership firm based in 1998. At that point, the Squad needed to pay a debt of R$ 13.5 million, along with passing on percentages of the gross sales of athletes between 2007 and 2023.

Bahia by no means paid the quantities, Opportunity opened a process to gather the quantity. Corrected values ​​would exceed R$100 million. The Tricolores expressed concern about the imbroglio, as in the occasion of a court docket chapter, debt enforcement would have a big affect on the membership’s monetary well being.

perceive the case
The collaboration between Bahia and Banco Opportunity started in 1998, a 12 months after the membership was relegated to the second division. During the growth in the creation of company golf equipment in Brazil, the tricolor turned Bahia S/A. Through the Football League created to handle Squadron, Opportunity turned the proprietor of 51% of the membership. The different 49% continued with the affiliation Esporte Clube Bahia.

The monetary establishment made investments at the starting of the partnership, however the outcomes didn’t occur in the discipline. The workforce didn’t return to the first division in the first two years. Only in 2000, with the creation of the João Havelange Cup, the membership returned to the elite by way of a “turning of the tables”.

Three years later, in 2003, Bahia was relegated once more. With the relationship ruined, Opportunity left the membership. In 2006, when the workforce was already in Serie C, Bahia made a bid to regain management of S/A. At the time, opposition teams threatened to barter with the financial institution to purchase the shares.

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