Julio Casares resigns as president of Sao Paulo, but clarifies that “this is not an admission of guilt.”

president of Sao Paulo FC, Julio Casaresannounced his resignation a few hours ago, but the club’s general meeting subsequently voted to approve his dismissal due to embezzlement charges. “My resignation does not constitute an admission, declaration of guilt, or endorsement of the charges against me,” Casares, 60, declared in an Instagram post.

He continued with the same message, explaining that he made this decision “out of necessity” to protect his health and “protect” his family from “attacks and threats.” Casares’ dismissal was approved by a majority vote (188 in favor, 45 against, with two abstentions) at the Morumbi Stadium by the São Paulo Council, which oversees the club’s management, on Friday. Final ratification required approval by a simple majority of membership votes in the General Assembly.

Police are investigating withdrawals made from the club’s accounts between 2021 and 2025, the São Paulo state government’s public security secretariat confirmed to AFP. According to local media, the total cost is 11 million reais (approximately $2 million).

Casares was elected president of São Paulo FC in 2020 and re-elected in 2023. His term ends at the end of this year. His departure comes as the club prepares to open the Brazilian Championship season against defending champions Flamengo on January 28th.