Botafogo Social Raises SAF’s Debt to R$ 1.5 Billion, Requests Eagle’s Caution and Textor’s Inclusion as Defendant

Botafogo Social (BFR) continues to make moves against Eagle Football Holdings (EFH) and John Textor. In a request filed last week, the associative wing asked for the American businessman to be included as a defendant in the lawsuit between the parties and Botafogo’s SAF at the Rio de Janeiro Court of Justice (TJRJ). Additionally, BFR once again requested the British company to pay a caution of at least R$ 155 million to the company-club. The amount represents 10% of the alleged debt, which would be R$ 1.5 billion – Thairo Arruda, CEO of SAF, revealed that the short-term liabilities amount to R$ 700 million. The request by Botafogo Social emphasizes that this amount could not be taken from SAF’s own assets or revenue. The idea is for the amounts to be additional. ‘This is a necessary measure to safeguard the interests of the minority shareholder and, logically, those of SAF Botafogo itself, and to prevent the arbitration or judicial process from producing irreversible practical effects against it, without being minimally protected against the risks arising from the dispute between the controllers,’ a passage from the request reads. In this context, Botafogo Social points out that it is precisely due to the billion-dollar debt and the shareholder dispute that the inclusion of John Textor as a defendant in the process is requested. If the request is accepted, the American businessman may be personally held responsible for the liability and legally accountable for it.