[4] Born in Lisbon, Damásio was elected president of Benfica on 7 January 1994 with 87% of the votes, defeating candidate and friend José Capristano.
Shortly after succeeding Jorge de Brito, Benfica won the Portuguese league title in football.
Damásio then started a campaign to attract new members to the club to overcome financial difficulties,[4] raising the number of associates from 83,000 to 150,000.
[3] Along with the help of Abílio Rodrigues and Gaspar Ramos, Damásio transformed Benfica's football department.
He left Benfica following new early elections and was succeeded by João Vale e Azevedo on 31 October 1997.