Holding accuses US businessman of financial maneuvers that would reduce their participation in SAF, including debt negotiation and millionaire loan negotiation
The Botafogo SAF control dispute intensified after Eagle Football triggering the justice against the US businessman. The action was filed last week at.
Holding shareholders claim that the manager adopted “Several illicit measures” in charge of the club in recent weeks and ask for the immediate suspension of these decisions, according to information from the The globe. The conflict involves accusations of financial maneuvers, corporate differences and operations linked to the French club that also integrates the textor investment network.
Holding states that Textor tried to take full control of SAF through a corporate maneuver, without consulting the main shareholder.
Textor would have sold a debt of SAF’s 150 million euros to a company of yours in the Cayman Islands, with a disagerate (asset negotiated for a price lower than its value). The plan would include a new € 100 million loan, which would result in debt conversion into stocks and the dilution of Eagle.
After Lyon’s financial collapse, Holding broke with the businessman and appointed another representative. Despite still holding 65% of Eagle, Textor signed a removal agreement from the company’s command.
In the action, Eagle requests the court to suspend the effects of the Extraordinary Assembly held on July 17 and the Board of Directors meeting. It also asks for the issuance of new actions and the conclusion of contracts between Botafogo and people or companies linked to John Texor, according to information from ESPN.
The confirmed the sale of midfielder Savarino to Lyon for 7.6 million euros (R $ 48 million). Despite continuing to play for the Rio club, the economic rights of the player belong to the French team. Other athletes, such as Luiz Henrique, Igor Jesus and Jair, would also be transferred to Lyon, but were negotiated with third parties because the French club was prevented from registering new players. According to Botafogo, the values of these transactions were directed to Lyon’s financial operation.
Any attempt to dilute Eagle’s participation in the stock structure. It claims that all decisions were made within the legality and were intended to ensure financial contributions in case of default by Eagle or Lyon, French club also linked to John Textor’s network. According to SAF, the majority partner would have priority in these contributions.
Read what was published by Botafogo on social networks:
SAF Botafogo clarifies that it has always valued collaboration within the Eagle Football ecosystem and maintains the desire that this partnership will continue to exist, for the benefit of all the clubs that make up the group.
Unfortunately, measures adopted by regulatory bodies in France…
– Botafogo FR (@botafogo)
The dispute, however, compromises the company’s governance and can generate institutional instability. If approved operations are invalidated in court, Botafogo risks relevant financial impacts. Uncertainty in charge also affects the club’s sports management, in the middle of the season.
Even after the break with Eagle, John Texor follows in charge of SAF, supported by the board of directors and favorable decisions in court. Holding still holds most actions, but acts in court to reverse recent decisions and resume effective control of the company.
