John Textor, majority shareholder of Eagle Football Holdings, holds decision-making power or not? According to ‘O Globo’, which obtained internal company documents, the SAF Botafogo shareholder is prohibited from making decisions without the approval of an independent director. A meeting on April 23 at Eagle Football’s Board of Directors, chaired by John Textor, unanimously approved a governance structure change, with Christopher Mallon appointed as an independent director. As of May 6, when it was formalized, all director decisions should be made by majority vote, including Mallon’s. ‘O Globo’ also reported that delays in the Crystal Palace sale led to further internal changes, giving the independent director majority votes and decision-making power. By June 11, a new breach notice was issued for not going public on the stock exchange. Eagle is using this information to pursue legal action to annul decisions regarding Botafogo SAF. The company alleges that John Textor is attempting to gain full control through financial maneuvers involving issuing new shares, debt conversion, and using the club’s assets for power. Eagle claims the businessman misrepresented the company without authorization.
