JOCKEY: CPI DEEPEST INVESTIGATION ON DEBT AND RESTORATION

The CPI of the Jockey Club of São Paulo arrived at the June 9 session with an investigation broader than debt collection. The City Council panel investigates the entity's fiscal and real estate situation, the sale of construction potential, the application of resources intended for the restoration of listed heritage and the performance of public bodies responsible for authorizing, monitoring and supervising operations involving one of the most valuable areas of the capital.

The work is led by councilor Gilberto Nascimento (PL), president of the CPI. The vice-presidency is held by Sansão Pereira (Republicans), while the rapporteur is in charge of Carlos Bezerra Jr. (PSD), responsible for organizing the line of investigation and pointing out the documentary contradictions raised in the hearings. Councilors Dheison Silva (PT), Eliseu Gabriel (PSB), Kenji Ito (Pode), Luana Alves (PSOL), Roberto Tripoli (PV) and Silvinho Leite (União) are also part of the board.

The case gained strength because Jockey accumulates tax liabilities in excess of R$800 million, according to the City of São Paulo, and is trying to reorganize its financial situation amid questions about the legal nature of the entity. The City Hall challenged the club's judicial recovery on the grounds that the mechanism is aimed at companies, not non-profit civil associations. In April, the São Paulo Court of Justice rejected the request for judicial recovery presented by Jockey, also based on the understanding that the law does not apply to non-profit civil associations.

At the center of the investigation is the Transfer of the Right to Build, an instrument provided for in the São Paulo Master Plan. According to the rule, listed properties or properties of historical interest can transfer part of their construction potential to other projects, as long as this enables conservation and preservation actions for the protected property. In other words, the urban benefit exists to help preserve historical heritage, not to function as free cash revenue.

The CPI started to focus precisely on the distance between the money moved and the proof of the works. A UOL report pointed out that Jockey raised around R$61.2 million with the transfer of construction potential and that the City Hall was investigating whether the resources had been correctly applied to conservation and restoration. Folha de S.Paulo also recorded that the CPI was driven by reports about the lack of proof of the application of these values.

How the investigation progressedThe CPI was installed in November 2025 and began work with document requests. In the first phase, councilors approved requests to obtain information on the operation, administrative structure, financial management, asset situation and Jockey's relations with City Hall bodies. The commission also requested data from municipal secretariats, the Municipal Attorney General's Office, the Comptroller's Office, SP Urbanismo and Conpresp.

In March 2026, the investigation entered the testimony phase. Representatives from the Department of Historical Heritage were interviewed to explain the analysis of expenses linked to the restoration. The Chamber recorded that technicians pointed out expenses presented by Jockey with no direct relation to preservation works, including administrative and material items with no clear connection to the restoration of the listed heritage.

Afterwards, the CPI heard representatives of companies mentioned in the investigation. One of the most sensitive points involved Ambiência, a company that, according to records discussed in the commission, was related to projects worth around R$1 million each. The company representative told the councilors that there was no direct formal contract with the Jockey to restore the Hippodrome and that the company did not receive the aforementioned amounts. The episode reinforced the line of investigation into the consistency of the documents presented by the club.

In April, the collegiate began demanding more detailed explanations from public managers and companies linked to operations. The commission approved summons and requests for the exhibition of documents to the Department of Historical Heritage, the Municipal Secretariat of Culture, the Subprefecture of Butantã and property registry offices. Representatives of companies and offices linked to contracts or restoration studies were also called.

The hearing on April 28 deepened the contradiction over values. Architect Marina Nardin Prado, from DPH, stated that the documentation presented by Jockey did not allow spreadsheets, dates, buildings and sizes to be made compatible. According to the Chamber, part of the material indicated around R$20 million invested in a 50,000 square meter project, while other amounts, which would reach R$45 million, were not accompanied by a clear indication of where they would have been spent.

On May 5, the CPI heard representatives from Conpresp and the company TLR5. The testimony brought another axis: private companies that purchased Jockey's construction potential claim to have made payments, but did not receive the necessary documentary counterparts. TLR5 stated that it negotiated the purchase of construction potential for almost R$18 million, paid a first installment of close to R$8 million and did not receive the expected transfer.

A week later, on May 12, the commission expected to hear from representatives of Partifib, Nova Paulista, Brock Empreendimentos and BPG AV Mofarrej. None attended. The Chamber reported that only two companies presented formal justifications. The absence led councilors to approve subpoenas, with the possibility of coercive conduct in case of further non-attendance.

On May 26, BPG AV Mofarrej testified about a R$23.44 million contract linked to the acquisition and assignment of construction potential. According to the Chamber, the company representative said that payments were made directly to Jockey in three acts. At the same meeting, other participants failed to attend again. It was in this context that rapporteur Carlos Bezerra Jr. stated that the CPI needed to explain the destination of around R$40 million.

The session on June 9th At the meeting on June 9th, the CPI heard employees from the Municipal Department of Urban Planning and Licensing to understand the City Hall's role in operations involving the Jockey. Daniella Lucas Richards, coordinator of land use and occupation legislation, stated that there was no current procedure that required prior consultation with the Department of Culture on the progress of restoration works. She also said that SMUL does not directly monitor the restoration works, acting within the applicable urban rules.

The speech exposed a relevant gap: if the sale of construction potential is authorized with the justification of preserving a historic asset, urban inspection and cultural inspection need to talk more efficiently. According to the secretariat itself, there is a draft decree under analysis to require consultation with Culture in successive transfers, after 120 days.

Cristina Baumgart, representative of Brock Empreendimentos, also participated in the meeting, called to explain a R$3.2 million contract with Jockey. She did not detail the negotiations, claiming that the person directly responsible was her brother, who died at the beginning of the year. At the end of the session, the CPI approved new requests to SMUL, summoned representatives linked to Jockey, companies and the judicial administration, and approved the coercive conduct of José Emílio Pessanha, from Nova Paulista Empreendimentos Imobiliários Ltda.

The defense of the JockeyThroughout the discussions about the future of the area and the investigations conducted by the City Council, representatives of the Jockey Club of São Paulo have maintained that part of the controversies involving the institution arise from legal and administrative disputes that have not yet been definitively resolved.

During a public hearing held at the Chamber to discuss the possibility of expropriating the area for the implementation of a municipal park, the vice-president of the club, Vicente Renato Paolillo, contested the amounts of the debt attributed to Jockey by the City Hall. According to him, part of the debts are still the subject of judicial and administrative questions, which is why there would be no consensus on the amount actually owed.

At the same hearing, councilor Marconi Perillo defended an alternative model to expropriation, based on expanding public access to space through a park of public interest managed by the private sector. According to him, the proposal would allow preserving the historical heritage and expanding the use of the area by the population without the need for the municipality to acquire the property.

In statements sent to the press during investigations into the resources obtained through the Transfer of the Right to Build, the Jockey stated that he had provided information to the competent bodies and declared that the amounts received were destined for conservation, maintenance and preservation actions of the institution's listed heritage. The club also informed that the expenses presented underwent audit and inspection processes provided for in the instruments signed with the public authorities.

Despite these statements, the CPI has maintained the understanding that additional clarifications are still needed on contracts, real estate operations and documentation related to the use of resources linked to historical heritage. In this context, councilors approved new subpoenas from people linked to the club and the operations under investigation, including Fabrício Antonio Guidorce Buffolo, a member of Jockey's administration, as well as judicial administrator Joyce Ruiz Bernie and employee representative Sebastião Silveira Salles.

What's at stake for the cityThe investigation is not just about accounting. Jockey occupies a strategic area of São Paulo, with a large territorial extension, historical value, privileged location and environmental potential. Therefore, the debate about its future has once again gained strength far beyond tax and patrimonial issues.

In May 2025, the City Council held a public hearing to discuss the project that authorizes City Hall to declare the area of public utility for the creation of a municipal park. The proposal, presented by councilor João Jorge and co-signed by Fábio Riva, was defended by representatives of the Executive as an opportunity to expand the population's access to one of the most emblematic areas of the capital. Jockey representatives, in turn, contested the amounts of debt attributed to the club and defended alternative models of use with the participation of the private sector.

The discussion goes beyond the limits of the CPI itself. The central question is what the future vocation of a space that combines historical heritage, urban relevance and a privileged location in one of the most valued regions of the city should be. Should it remain under private administration or assume a broader function, aimed at collective use, as a green area, cultural space and leisure equipment open to the population?

The CPI has not yet presented its final report. So far, however, it has consolidated three major fronts of investigation: the collection of tax debt accumulated over the years, the traceability of resources obtained through the transfer of construction potential and the actions of public and private agents involved in the operations analyzed. The progress of the hearings also reinforced the understanding that the Jockey's future cannot be treated solely as a patrimonial issue. This is a discussion about the city model that São Paulo intends to build for the coming decades.

The Jockey defense exists and must be considered. The club denies irregularities, disputes part of the amounts charged by the City Hall and claims to have provided clarifications to the responsible bodies. Even so, the sequence of testimonies and documents analyzed by the CPI shows that doubts remain about the full allocation of resources linked to restoration, the execution of certain real estate operations and the effectiveness of public inspection mechanisms.

If at the end of the investigations it is demonstrated that resources intended for the preservation of heritage have not had their application fully proven, that operations involving constructive potential have produced relevant controversies and that there have been integration failures between different areas of municipal administration, the public interest tends to gain even more weight in this debate. In a city that faces a historical lack of green areas, common spaces and accessible cultural facilities, the transformation of the Jockey into a public park would no longer represent just an urban proposal but would instead consolidate itself as a concrete alternative for the future of one of the most symbolic areas of the capital.

Timeline of the São Paulo Jockey Club CPI October 29, 2025 - Chamber approves the creation of the CPI to investigate fiscal and real estate regularity, tax debts, alienation of construction potential and possible omission of the Public Power.

November 11, 2025 - CPI is installed. Gilberto Nascimento assumes the presidency, Sansão Pereira the vice-presidency and Carlos Bezerra Jr. the rapporteur.

November 18, 2025 - Commission approves the first requests, including requests for more than 70 documents on Jockey's management, assets, finances and operation.

March 17, 2026 - DPH testifies and points out expenses with no clear connection with restoration in documents presented by the club.

March 24, 2026 - Ambiência representative denies direct formal contract with the Jockey for the restoration of the Hippodrome and says he did not receive the mentioned amounts.

April 7 and 14, 2026 - CPI expands calls and hears representatives from the Secretariat of Culture, Butantã Subprefecture and Conpresp.

April 28, 2026 - DPH points out inconsistencies in spreadsheets and lack of clear evidence regarding a relevant part of the values linked to the restoration.

May 5, 2026 - TLR5 reports payment for construction potential and absence of expected consideration.

May 12, 2026 - Representatives of four companies did not attend; CPI approves subpoenas.

May 26, 2026 - BPG AV Mofarrej testifies about the contract worth R$23.44 million; rapporteur speaks of R$40 million without explanation.

June 9, 2026 - SMUL admits there is no current procedure for prior consultation with Culture on the progress of the restoration; CPI approves new requests, subpoenas and coercive conduct of Nova Paulista representative.

Source: Antena 1