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Atlético-MG is planning to sell Shopping Diamond Mall
- The club still owns 49.9% and has begun to send a document to the councillors regarding the importance of selling the property.
05/10/2022
Atlético-MG recently held the Galo Business Day, where it has disclosed some financial situations and some club projects. Among them is the sale of the rest of the Diamond Mall, a shopping centre located in the Lourdes district. The club still owns 49.9% and has begun to send a document to the councillors regarding the importance of selling the property.
The document's name, which started to be sent this Monday, May 9th, is called "Why sell Diamond?". The board talks about the urgency of selling the shopping centre due to the club's financial situation.
"The club's financial situation requires immediate action. The interest and charges from past debts cost over 50 million per year, and there is an expectation of an increase due to the economic situation with rising interest rates. As a result, even with a positive operating result, the costs of past debts harm the cash flow and financial performance of Galo".
Atlético-MG included in the document some questions/doubts that may arise regarding the sale of the shopping center. The club attempted to address these inquiries by exposing the financial situation.
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