John Texor is trying to repurchase Botafogo, but the process is giving the backstage to talk. The investor bumps into conditions of the Eagle Football Holdings, a company he has commanded, but is currently run by other entrepreneurs.
The Investment Fund Ares and Michelle Kang, director at the head of Lyon and, as a consequence, Eagle herself, do not want to sell Botafogo to John Textor. Both see conflict of interest in the negotiation.
The whole imbroglio generated a series of questions, which will be answered by CNN.
Textor, Eagle and Botafogo
Eagle Football Holdings owns 90% of Botafogo’s SAF shares. John Texor leads, but broke with Ares, the main partner, because of Lyon’s financial collapse. Michelle Kang, thus took over the club.
Lyon’s textor departure is part of a determination of the National Directorate of Control and Management (DNCG), which lowered the French club to Ligue 2 for lack of financial guarantees.
The American also did not raise figures to compose the 100 million euros invested in Lyon, another part of the agreement with DNCG to keep the team in the first division, a fact that confirms the rupture.
Now Eagle’s command wants to sell Botafogo, but not to the investor. In the present way, Textor would act as “buyer and salesman” simultaneously, so the theory of conflict of interest.
For the repurchase to advance, the eagle asks the textor to leave the holding of the holding. The American, in turn, tries to force the operation with a new company in the Cayman Islands and owns Nottingham Forest.
The problem is that, at the moment, the options involving a separate sale of John Textor appear as unlikely behind the scenes.
The most attractive scenario is the sale of shares for a third part, but it would involve SAF’s legal problems and capture of buyers, something that would not work within the time that Eagle expects in the negotiation.
Investors also considered maintaining Botafogo in the holding company, only removing John textor from power. The American businessman, however, is aligned with the Associative Club, who wants his permanence.
So much so that Botafogo’s own SAF managed, in Rio, alleging a debt of nearly $ 150 million with Eagle Football holdings.
Despite the momentary victory, the carioca club finds itself with their hands tied, since without Eagle, John Textor is unable to move the money as he did. Who suffers in this case is the glorious.
This way, and the next few weeks will be fundamental to understand the steps of SAF.
