The judicial investigation by the alleged money laundering followed by Sur Finanzas, the financial firm linked to Eduardo Spinosa, the former president of Banfield, and Ariel Vallejo, a financier close to Claudio “Chiqui” Tapia, the head of the AFA, could complicate the agreement to modernize the landmark José Maria Minellathe World Cup stadium in Mar del Plata. Specifically, the federal judiciary suspects that Sur Finanzas “laundered” money through excessive loans to clubs with financial problems. These include Independiente, Racing, San Lorenzo, Banfield, Argentinos Juniors, Platense and Barracas Central. Aside from that, There are sponsorship agreements between the respective financial institution, the Professional Football League (LPF) and the Federal Council (CFFA).which brings Tapia even closer to the company under investigation.
In the last few days The judiciary also carried out raids in Mar del Plata while Spinosa, the former owner of Banfield, was involved in the tender process and the opening of envelopes that granted Minella Stadium SA control of the stadium for 30 years, with the possibility of extending this control for another 10 years.
Minella Stadium SA was the only company to take part in the tender to restore the iconic Mar del Plata Stadium.
The company consists of Revee Group, part of a powerful Brazilian investment fund with sports infrastructure and entertainment companies, and local company Pro Enter.
Among other things Revee Group carried out the modernization of stadiums in Brazil such as Allianz Parque and Fonte Luminosa de Araraquaraand also joined a company that renovated Canindé, owned by the Associação Portuguesa de Desportos in Sao Paulo.
For its part, Pro Enter is dedicated to the marketing and production of sporting events and was founded and directed by Javier Schmidt and Diego Ávila. both with a history in tournaments.
Minella Stadium: The judiciary intervenes in Mar del Plata
As previously mentioned, the foreign investment fund has proven experience in the stadium business in Brazil and Minella’s would be its first investment outside of its country. In previous articles iProfessional He specified that Spinosa and the law firm Claria & Trevisán were involved in some form in this capital group.
Last week and after a series of raids Federal judge Luis Armella demanded from the municipality of General Pueyrredón all documentation of the tender process to reconstruct the commercial property behind the contract.
“Spinosa was involved in the opening of the envelopes in April, in which only Minella Stadium SA was known as the only bidder in the tender. And Spinosa himself, as the president of the Mar del Plata Football League (LMF) Roberto Fernández explained on December 3 in statements to the radio program La Voz del Estadio, acts as “Representative of the company’s interests‘ before other institutions such as the LMF,” explained the Mar del Plata media.
In the last hours, the political opposition presented a draft resolution for the Executive Department of the Municipality of General Pueyrredón to transmit within 72 hours the “Concession Agreement for the World Cup Stadium and the Islas Malvinas Sports Center and all related administrative documents”.
The controversy, which also seems to be growing around Minella, is being watched with concern by city authorities, who fear that the scandal could at least put on hold one of the largest investments for Mar del Plata in recent decades.
Although Minella Stadium SA has so far shown no signs of changing its business plan, The legal escalation could affect the timetable.
“If Spinosa’s situation becomes more complicated, the repercussions for Brazilians will be inevitable. The agreement is signed and the enthusiasm continues. But in Mar del Plata no one doubts that any foreign investment related to football could be lost if the alleged money laundering and connection to the AFA are proven,” commented a source linked to the LMF.
The Brazilian plan for Minella
Earlier this month, Minella Stadium SA took control of the José María Minella stadium after winning a competition in which it was the sole participant. The same group also took control of the Islas Malvinas Sports Center.
The group received a concession for 30 years with the possibility of extending this domain for another 10 years. During this period, you will pay a fee of 120 million pesos. The investors in question committed themselves to making the stadium one of the best stadiums in the world and expected investments in the region of $25 million.
According to the plan that Minella Stadium SA presented to the Municipality of General Pueyrredón, one of the most significant changes that the stadium will bring will be that it will create a capacity of 31,000 seats. In this context, the popular headlines will be eliminated and all stands will be merged into stands.
At the same time, the Brazilians are considering holding summer tournaments in which, in addition to the Argentine teams This also includes clubs from neighboring countries.
For example, for the Islas Malvinas sports center, the plan includes strengthening the general structure of the site so that it can withstand greater loads during events. Wraparound and cube-shaped LED screens like those used in the NBA will be installed in the middle of the stadium. A new high-quality lighting and sound system will also be implemented.
The idea of Minella Stadium SA is to host up to 95 events annually in both complexes.
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