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A multi-million dollar earthquake has hit Brazil. The US-based Saint Dominique Group has initiated proceedings to purchase Santos . Marcelo Teixeira , president of the Peixe (Santos ‘ nickname), accepted the first non-binding offer from the North American group, valued at nearly €350 million for 80% of the club —the highest offer ever received by a Brazilian club. The offer includes direct payment to the club and a commitment to clear its debts. The board will have 90 days to either proceed with the deal or reject it.
The negotiations are currently in the due diligence phase , a thorough investigation into the entity’s current situation to understand its financial, legal , operational, and commercial standing, as well as to identify potential hidden risks should the purchase go through. The club will have a maximum of 90 days to complete this process , during which it has committed to not considering any external offers . This period will ensure legal certainty and a thorough analysis of both the club’s accounts and those of the American company itself to determine if it has the financial capacity to carry out the transaction.
“ Santos Futebol Clube and SDC Sports LLC , a global investment platform focused on the long-term development of clubs, announce that they have entered into an agreement granting exclusivity to begin discussions regarding a possible investment by SDC Sports LLC in a Sociedad Anónima del Fútbol (SAF), which could be established by the Club,” the statement reads.
Santos will also conduct an investigation into the American company itself to avoid another ‘Eagle case’ . That is, closing a sale with an investor that leaves the club in a worse state than it is now, as is happening with a historic club like Botafogo . To this end, Santos will have the support and financial assistance of giants in the sector such as XP Investimentos and Rothschild & Co.
“The agreement establishes non-binding negotiations and will allow for an in-depth analysis of strategic, financial, and operational aspects between the parties ( due diligence ), while preserving the complete autonomy of both parties regarding the eventual formalization of a definitive investment in the potential SAF of Santos Futebol Clube ,” the statement continues. “The objective of these discussions is to strengthen the Club’s operations as a whole, improve its competitive performance, boost its brand, refine its market positioning, and accelerate the development of its professional and youth football programs,” it concludes.
While there were rumors of a potential attempt by the Neymar family , through Neymar ‘Pai’ and the parent company NR Sports , the truth is that no official negotiations took place with Marcelo Teixeira regarding this possibility. Although the Brazilian press reported for months that the family had inquired and sought legal and financial advice about buying the club, the deal never materialised.
The family bought Pelé’s rights at the end of last year in a move that foreshadowed their definitive takeover as owners of Santos. However, despite having tried to attract foreign investors, NR Sports, and therefore Neymar ‘Pai’, is out of the equation . At least for now. It’s not out of the question that, if the due diligence process doesn’t go well, they could return to the game.
