Fred Luz, CEO (Chief Executive Officer) at Corinthians, recently discussed the possibility of the club becoming an SAF (Sociedade Anônima do Futebol) in the near future. According to the representative of the consulting firm Alvarez & Marsal, there has been no demand from president Augusto Melo regarding this possibility. "In fact, the authority lies with the club president. At no time has Corinthians made any demands regarding SAF. There is no demand. It's as simple as that. And you know what? Most of the major associations, such as Corinthians, Flamengo, Palmeiras, São Paulo, are not SAF and do not consider it. Why would Corinthians consider it? Flamengo was reorganized without becoming an SAF. I don't think the president's decision is wrong, I think it's correct," commented Fred Luz in an interview with UOL Esporte.

The "SAF at Corinthians" topic gained momentum with the club's desire last month to file a precautionary action with a request for injunctive relief. The club considered going to court in order to protect its bank accounts and gain time to negotiate its short-term debt with creditors. The movement for a precautionary action raised tensions among those expecting payment from Corinthians and naturally led to concerns that the club would subsequently seek a judicial recovery. It was reported by Gazeta Esportiva that the negative reaction from creditors was crucial for the club to back down from its initial goal.

Fred Luz, who was hired in July through the company Alvarez & Marsal, was the main advocate of the idea for the club to file for the precautionary action in court. Gazeta Esportiva found that the situation caused discomfort within Parque São Jorge because if the precautionary action were accepted by the courts, Alvarez & Marsal itself would be responsible for negotiating with creditors and by contract, the company would be entitled to varying percentages for each successful negotiation with each of Corinthians' creditors, as well as a fixed monthly gain. President Augusto Melo, two weeks ago, wrote an open letter to Corinthians' fans to deny any interest from the club in becoming an SAF. "As long as I am here, as president or counselor, Corinthians will not be transformed into an SAF, nor will it enter into judicial recovery. Corinthians belongs to you, and it will remain that way," wrote the president at the time.