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São Paulo use Lucas Moura money to settle debts


According to information published in Lancenet, São Paulo will use approximately €22.5 million of the €32 million they will receive from the sale of Lucas Moura to reduce the club's long-term debts.

With the club's debts standing at €65.8 million according to latest figures published in April 2012, it will allow the club to pay off some of their highest interest loans held with Banco BMG.

São Paulo are already considerably less indebted than many of their major rivals, but according to predicted figures will drop from 7th to 11th on the list of club's owing the most—becoming the least indebted of the giant São Paulo-based sides in the process.

Of the total €43 million that PSG will pay for the youngster, 25% of the fee will transfer to Lucas Moura himself. Once the money set aside for repayment has been used, it will leave the club with €10 million for reinforcements this season.

São Paulo hope that, by freeing the club up from major high-interest debt, it will give the club more long-term freedom in the transfer market.

Source: Lancenet


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