With Del Valle, Coritiba SAF slices its share capital and raises alerts

It is clear that Treecorp did not feel comfortable with the business after realizing that there is nothing similar, in the corporate world, to the fan’s passion. Impatient, intransigent and blind to the club’s previous state, he demands immediate results. To do this, fans are able to fill buses and organize caravans to the headquarters or the owner’s residence to protest.

It was no coincidence that, shortly after receiving the visit of the lame fans in São PauloTreecorp has traded part of its shares with the company Outfield. Now, he is negotiating another slice with Grupo Del Valle, from Ecuador, representing peripheral football in South America.

In the same way that it explained Outfield’s entry into the company, Treecorp justifies Del Valle’s entry as that of a minority shareholder. This issue, however, is irrelevant and has been used to avoid the main debate: Treecorp’s conduct raises a series of doubts. And it leaves one thing certain: the company fragmented its share capital and put it up for sale on the market.

The fact that the new shareholders, Outfield and Del Valle, are minorities is also irrelevant, as they have rights that allow them to intervene so as not to be harmed by decisions of the majority controller.

These movements coincide with another sensitive point: the largest portion of the amount that Treecorp needs to invest is about to be charged: the modernization of Couto Pereira, budgeted at up to R$500 million. Little is said, however, that the construction of the Campina Grande CT has not even begun, when it should have already been inaugurated.

This is the essential question to be debated in the deal with Del Valle. But it seems that the Curitiba press prefers to limit itself to the obvious, reproducing only what appears in the club’s official statement.