Barcelona SC must follow these steps to become a Sports Anonymous Society

Ecuadorian sports clubs can now officially transform into Sports Anonymous Societies (SADs) following a resolution issued by the Superintendency of Companies, Values, and Insurance (SCVS) on June 24, 2026. This regulation opens a new path for the financial restructuring and potential privatization of sports organizations.

The transformation process is governed by specific steps outlined in the official registry. Key among these is the requirement for a two-thirds favorable vote from the club's general assembly. The legal representative must also submit the club's financial statements for an external audit, justify the reasons for the transformation, and prepare the new corporate statutes.

For clubs like Barcelona SC, a major institution in Ecuadorian football, the path to becoming an SAD involves a thorough financial diagnosis. Lawyer Santiago Zambrano emphasizes the need for an external audit to precisely ascertain the club's assets and liabilities. This audit is crucial because under the current system, the club belongs to its members, but as an SAD, it would be owned by shareholders who contribute capital.

The value of shares and the number of shareholders will be determined by the SCVS or the SAD's statutes. A critical step before finalizing the transformation is ensuring that all financial contributions come from legitimate sources, free from any involvement in money laundering or illicit activities. This regulatory framework aims to bring transparency and financial stability to sports clubs seeking to transition into SADs.