Cafu Forced to Sell Mega-Mansion to cover debts

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By LatAm Reports Editor

The former captain of the Brazilian team was forced to sell his $8 million mansion due to the economic problems he currently has.

Marcos Evangelista de Morais, better known in the world of football as Cafú, is going through a complicated financial situation by having several debts due to past businesses.

As a result, the world champion in Korea and Japan 2002 had to auction off his luxurious mansion located in the Alphaville area of Sao Paulo, Brazil.

The luxurious Cafú property, valued at approximately $8 million, was sold for as little as $5 million to a company that plans to make the payment through 15 monthly installments.

This mansion has an extension of 2,000 square meters and includes amenities such as an elevator, a cinema room, a swimming pool, a sauna, a professional gym and a football court.

After the sale of his house, Cafú will have 45 working days to leave the property and hand it over to the company that acquired it through an auction.

According to the Brazilian media UOL, Cafú’s economic problems began when he tried to assist an entrepreneur, whose name was not revealed, with the loan of his image and other resources.

In addition, his debts continued when, in early 2019, his company Capi Penta International Player, dedicated to managing football careers, carried out several failed businesses.

A large number of investments and multiple default loans led Cafú and his company to accumulate large debts, ranging from US$300 billion to US$1.5 million.

This article has been translated from the original which first appeared in Prensa Libre