After a "tense morning," the Brazilian federal government "came to an agreement" in relation to renegotiating football clubs' debt, according to Fabrício Marques of GLOBO ESPORTE. During a "closed-door meeting" Tuesday, the federal government presented the Medida Provisória and "promised to have the text edited and published by next Thursday. Club debt has risen to "around" R$3B-R$4B ($9.3M-$1.2B). As a solution, the federal government "will consider a grace period requested by the clubs to pay debts, of 240 months as well as ... the possibility of downgrading the clubs" because of delayed salary payments (GLOBO ESPORTE, 3/17). In São Paulo, Daniel Carvalho reported the federal government also "defended" the idea of refinancing a club's debt in 180 months if a club "puts down [an initial] payment of 10%" of its debt. Brazilian Sports Minister George Hilton: "We wanted to innovate a system of financing that would be unlike the others. ... We don't always achieve the ideal, but [we do achieve] the possible" (ESTADÃO, 3/17).
