Vasco unveil new recovery plan with key changes for creditors | OneFootball

Vasco da Gama has submitted an amendment to its Judicial Recovery (JR) plan, in a strategic maneuver to increase the chances of approval in court. The new document, prepared to address issues pointed out by the Public Prosecutor's Office, introduces significant changes in the way creditors are paid, creating distinct categories and a new and controversial “sports clause.”

+ Public Prosecutor points out illegalities in Vasco's judicial recovery plan

Vasco creates different categories and conditions

The main change in the new plan is the segmentation of creditors. For labor creditors, for example, the club offers two options. Those who agree to a mediation process will receive 100% of their credits within up to 10 years. Meanwhile, the “non-collaborators” will receive only 8% of the amount upfront, a clear incentive for negotiation.

The plan also creates the category of “strategic partners.” In this category, clubs, federations, agents, and suppliers will have better payment conditions, potentially receiving up to 100% of the amount owed. The measure aims to maintain good relations within the football ecosystem.

Pedrinho and CEO Carlos Amodeo – Photo: Dikran Sahagian/CRVG

Plan includes ‘sports performance clause‘

The most innovative and controversial clause of the amendment is the one that ties debt payment to success on the field. The “sports clause” stipulates that if the club suffers a revenue drop due to “sporting failure” (such as relegation), payments to creditors in the following year may be reduced by up to 50%.

This revamped plan, which cites jurisprudence from the STJ to strengthen its position, is the board's big bet to unlock the process. If the plan is approved, all actions and protests against the club are suspended. The ball is now in the court of the creditors and the judiciary, who will have the final say on the financial future of Vasco.

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This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.