Text also increases mechanisms for investigating irregularities committed by leaders, just what Raposa suffered under a previous management
Although President Jair Bolsonaro (without a party) vetoed Profut’s reopening by enacting Law 14.073 / 2020, Cruzeiro celebrates behind the scenes two conditions granted to clubs in the text; The first of these is the one included in Article 8. It contains the possibility of a tax transaction with the Attorney General of the National Treasury (PGFN).
Tax lawyer Rafael Pandolfo, from the ‘Lei em Campo’ website, explained to the Super.FC how should the proceeding be carried out to carry out this operation and be able to pay the tax debt, currently at R $ 300 million, which it has.
“The law did not reopen the term for Profut. The debts will return to the original values, but Cruzeiro may, like the other clubs, carry out the transaction. In this negotiation modality, the club may obtain a discount of up to 70% if the payment is in cash with structured financial transaction resources involving Timemania resources “, pointed out Pandolfo.
As one of the clubs present in the federal lottery since its creation, Cruzeiro has values that amortize its debt. In 2019, Timemania had a gross revenue of R $ 297 million. The federal lottery was created to reduce the debts of Brazilian teams with the government. In 2020, the initiative reaches the 13th year. Last year, Cruzeiro was the club that had the 10th largest amount of bets, generating a collection of more than R $ 3 million.
As a rule, 20% of the amount is passed on to the 98 clubs registered in the federal lottery. The division occurs based on the number of bets for each one. Eighty teams are present on the card, and the display of this portion is based on the ranking of bets it has. Four “subgroups”;
Revenue sharing passed on to clubs and respective dues in 2019
65% (group 1, from 1st to 20th place) – R $ 38.6 million (R $ 1.933 million each)
25% (group 2, from 21st to 40th place) – R $ 14.8 million (R $ 743 thousand each)
8% (group 3, from 41st to 80th place) – R $ 4.7 million (R $ 118 thousand each)
2% (group 4, with 18 clubs out of the pack) – R $ 1.1 million (R $ 66 thousand each)
In practice, Cruzeiro may invest resources from Timemania to guarantee payment of the operation to settle the tax debt. The new law allows Cruzeiro to make a loan with a financial institution, such as Caixa Econômica Federal, to fully pay off the tax debt. With the bank of origin of the loan, the celestial team can negotiate the payment in up to 145 months, still liable to receive a 70% discount.
The essential difference is that Profut granted Cruzeiro the debt installments in up to 240 months, with discounts of 70% of fines and 40% of interest, in addition to exemption from legal charges.
Accountability of managers
Another factor widely celebrated by the current management of Cruzeiro is the accountability of officers with personal assets in case of irregularities in the administration of the clubs. Pandolfo explains that this penalty already existed, but the law has now established specific hypotheses for this accountability to be determined.
“The acts of reckless management were already subject to liability, civil and tax (CTN, art. 135). Law 14.073 / 20 added and defined specific hypotheses for the accountability of managers and established how this responsibility will be determined, by the entity’s internal mechanisms. (general meeting, fiscal council) “, observed Pandolfo.
The specification of the text of the new law for the cases is in full just below:
Art. 18-C. Acts of irregular or reckless management practiced by the manager are considered to be those that reveal a misuse of purpose in the direction of the entity or that generate excessive and irresponsible risk to its assets, such as:
I – invest credits or social assets for personal or third party benefit; (Included by Law No. 14,073, of 2020).
II – obtain, for yourself or for others, an advantage that you are not entitled to and that results or may result in a loss for the sports entity; (Included by Law No. 14,073, of 2020).
III – enter into a contract with a company of which the director, his spouse or partner, or relative, in a straight line, collateral or by affinity, up to the third degree, are partners or administrators, except in the case of sponsorship or donation contracts for the benefit of sporting entity; (Included by Law No. 14,073, of 2020).
IV – receive any payment, donation or other form of transfer of funds from third parties that, within a period of up to 1 (one) year, before or after the transfer, have signed a contract with the professional sports entity; (Included by Law No. 14,073, of 2020).
V – anticipate or compromise revenues that do not comply with the law; (Included by Law No. 14,073, of 2020).
VI – not to transparently disclose management information to members; (Included by Law No. 14,073, of 2020).
VII – fail to provide accounts for public funds received. (Included by Law No. 14,073, of 2020).