The discussion about the formation of Sports Joint Stock Companies (SAD) divides waters in the Argentine football and political world. On the one hand, the libertarian government led by Javier Milei which promotes the appearance of investment groups in clubs. On the other, the opposition, “Chiqui” Tapia and the Argentine Football Association (AFA) who support the slogan “the clubs belong to the members” and strive to avoid the appearance of private capital within the civil associations that are the clubs. The conflict escalated to the point that the Government analyzed a possible intervention by the governing body of national football, something that was ruled out due to the disaffiliation that the International Federation of Association Football had imposed (FIFA), which considers government intervention as a serious affront.
But although the discussion about the SAD is far from being settled and continues to spark passionate football debates, one club took a step forward: Students of La Plata. The club from the provincial capital, today chaired by its greatest idol Juan Sebastian Veronannounced an investment by the American businessman Foster Gillettwho promised to disburse at least 150 million dollars. The initiative ranges from the incorporation of top-level players to the development of infrastructure to strengthen all the club’s disciplines and the lower divisions. In fact, it is planned to roof the stadium, build a new headquarters, offices, extend the club school and add new training fields. Thus, Estudiantes took a step forward in establishing this model of football business and generated a schism on the national football scene.
Recidivist
Gillettthe new fashionable name in national football, is no stranger to Argentines and before landing in the country he had appeared alongside the Secretary of the Environment, Tourism and Sports of the Nation, Daniel Scioliin a nod from the Government to the arrival of private investors in football. “I am a young man who has spent his life in sports and entertainment,” he defined himself in August of this year, when the agreement with the La Plata club began to take shape. Gillett not only has just signed an agreement on the other side of the Río de la Plata, with the Uruguayan club Rampla Juniors, to develop a similar business model, but also, years ago, he was the owner of one of the most emblematic teams in the world. English football: Liverpool.
The experience ended in the worst way, with the club reaping poor results and accumulating a large debt that led Gillett to choose to sell his stake. Far from being daunted by this failed experience, Gillettowner of a fortune valued at more than 700 million dollarsreturned to the fray and set his eyes on South America. “I believe strongly in sports, in the business of sports, in the culture of sports. I live and breathe this sport. There is nothing that makes me happier than being in an environment where I put smiles on people’s faces,” he defined the reason for his interest in investing in the round.
Millions
The onerous investment in the club showed its first fruits after the announcement that the Boca Juniors footballer, Cristian Medina, would be transferred to Estudiantes after paying the contract termination clause, valued at 15 million dollars. An unprecedented amount for national football. The list of reinforcements also includes former River Lucas Alario and the possible landing of Valentine Boaton loan from English club Brighton. “They are going to be surprised. It’s not just Medina,” they explain to NOTICIAS from the club.
But while the “pincharratas” are hopeful about their promising future full of stars, the club’s legal department is looking for a way to justify those millions. The AFA remains firm in prohibiting the competition of those clubs that become SAD And so the La Plata club works against the clock to find a legal solution. “The legal team is in charge of shaping it,” they explain from the club. Meanwhile, an Extraordinary Members’ Assembly, still undated, is expected to ratify the agreement signed by the Board of Directors with Gillett. “If the partners reject it, it would be annulled,” they say.
Foster Gillettdespite failing in one of the biggest clubs in the world and taking it to the brink of the abyss, seeks to reinvent himself as a football businessman. Their millions can not only change the scenario of that sport in the country forever, but also lead the landing of the SAD. A story that has just begun and that will have a political correlation.
by RN
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