Victoria’s tax board approves 17% sale of SAD to V Sports

O fiscal council of Vitória de Guimarães issued a favorable opinion, published today on the official website of the emblem of the Portuguese Football League, for sale of 17% of the social capital of SAD to the company V Sports.

“ The tax board gives its assent to the divestment of V Sports of shares representing 17% of the capital of Vitória Sport Clube – Futebol, SAD (...), provided that the safeguards identified in this opinion are fully ensured, namely the protection of the club’s assets and the maintenance of its majority participation in the capital of SAD”, it says.

The vote on the 17% transmission of the capital of the SAD, with a view to restoring the 46% participation of the company holding the Aston Villa, of the English Premier League, previously approved by the Victorian partners on March 3, 2023, is scheduled for Friday, at the extraordinary general meeting that will take place at the Vimaranense Sports Pavilion Unit, from 20:00.

The body chaired by Rui Castro Dias points out that the operation recovers a model already approved by the partners in 2023, when 966 of the approximately 1,400 present in the extraordinary AG voted in favour of the sale of 46% of the shares, before V Sports' participation was reduced to 29% at the end of June 2023, due to UEFA's imposition, to comply with the rules of multi-ownership of clubs.

The tax board also argues that the EUR 3,8 million (ME) that the company intends to implement in the operation – return of two million promised in 2023 and 1,8 Additional ME – fall under a “proportional reference close to that provided for in the initial agreement of 2023”, which included the payment of 5.5 ME and the donation of two ME for infrastructure.

For the body, the maintenance of this “price reference” at a time when the financial and asset situation of the SAD is worse than that of three years ago, compared to the liabilities 85 ME and negative equity of almost 37 ME displayed in the report and accounts of 2025/26, is “an element favorable to the economic assessment of the proposal from the club’s perspective”.

Maintaining the club’s majority stake in the SAD, which will decrease from 67.84% to 50.84% if the partners approve the sale on Friday, and “the commitment of a debt restructuring plan” are other elements favorable to the agreement’s approval, adds the tax board.

In the view of this body, the implementation of the operation with the company owned by the Egyptian billionaire Nassef Sawiris (34%), the American billionaire Wes Edens (34%) and the U.S. investment fund Atairos (32%) can guarantee a “greater liquidity predictability” and enable SAD to “negotiate with less pressure” in the next transfer market in January 2027.

The members of Vitória de Guimarães will also vote on the authorization to introduce changes to the social pact of SAD.