Tribunal Arbitral of Fundação Getúlio Vargas (FGV) decided to remove John Textor from command of Botafogo’s SAF this Thursday (23). The decision responded to a formal request from Eagle Bidco, the company’s majority shareholder, which sought the departure of the American businessman. The removal is immediate and directly impacts the management of the Rio club.
The legal measure resulted in the cancellation of Assembleia Geral Extraordinária (AGE), which was previously scheduled for April 27th. Essa assembly would aim to define the next directions of Sociedade Anônima of Futebol black and white. Tribunal’s decision followed an initial attempt at an EGM, which took place on April 21st, and will be re-analyzed on the 29th, after the presentation of statements from all parties involved.
Disputa corporate and Eagle Bidco’s request
Eagle Bidco’s request for removal is the central point of the recent administrative crisis at Botafogo. Fontes linked to Eagle indicated that the request was motivated by an alleged disagreement between the partners of Eagle itself. John Textor would have been removed from the company, and Botafogo alleges that, after this movement, Lyon, also owned by Textor, would not have complied with payment agreements.
The situation escalated last Saturday, when Eagle notified Tribunal Arbitral once again, reinforcing the request for Textor to leave SAF management. Subsequently, and faced with the imminence of a decision by Tribunal, the SAF of Botafogo filed a request for judicial recovery in Justiça of Rio of Janeiro. Justiça granted a ruling partially in favor of SAF, adding a new layer of complexity to the scenario.
Eagle Bidco argues that the request for judicial recovery, made despite the shareholders’ wishes, violated Tribunal Arbitral’s jurisdiction. Essa maneuver would have led the independent body to act promptly to effect the removal of Textor. The businessman, in turn, tried to reverse the situation. Ele appealed to Tribunal of Justiça of Rio, seeking to maintain power and question the validity of the arbitration decision.
The basis of Tribunal Arbitral’s decision
The decision by FGV’s Tribunal Arbitral was detailed in an order issued on Wednesday (22). The judges explained that based on the information provided by Eagle and the Botafogo social club, there was a clear conclusion. Tribunal understands that the actions taken by the SAF under John Textor’s management “have the potential to cause irreparable harm to shareholders and the entire Botafogo fan community.”
The document highlights that previous measures were not sufficient to contain new SAF decisions. Tais decisions, according to Tribunal, were being “made exclusively by Sr. John Textor”, without due consultation and deliberation by shareholders. Diante within this framework, the judges considered “new measures” necessary to ensure that Textor did not act “in contravention of the prior consultation and deliberation of shareholders”.
Nesses terms, Tribunal Arbitral determined, on a “purely conservatory” basis, the automatic and immediate removal of John Charles Textor from the management of SAF Botafogo. Essa determination will be subject to subsequent reanalysis. Além In addition, the arbitration body also ordered the cancellation of the EGM scheduled for April 27th. The new call for the meeting will be the responsibility of the new management of Companhia, after the demonstration scheduled for April 29, 2026.
Cronologia of events and next steps
The corporate dispute at Botafogo has rapidly intensified in recent weeks. Recent events culminated in the removal of John Textor, marking a turbulent period for the club.
- Previous Sábado:Eagle Bidco notified Tribunal Arbitral, formalizing its request to remove John Textor from the SAF.
- Início of the week (after notification from Eagle):The SAF of Botafogo, in view of the expectation of a decision from Tribunal Arbitral, filed a request for judicial recovery in Justiça of Rio.
- Quarta Thursday (April 22):FGV’s Tribunal Arbitral released the decision determining the immediate removal of Textor from SAF command.
- Quinta Thursday (April 23):John Textor appealed to Tribunal’s Justiça’s Rio to try to reverse the decision and stay in office.
- April 27th:Assembleia Geral Extraordinária (AGE), which would discuss the direction of the SAF, was officially canceled due to the arbitration decision.
- April 29:Está planned to re-analyze Tribunal Arbitral’s decision, after presenting the statements of the parties involved in the dispute.
Procurada to comment on the developments, Botafogo’s SAF did not publicly comment at the time of publishing this news. FGV’s Tribunal Arbitral is a private and confidential conflict resolution mechanism, chosen by the parties to mediate the corporate dispute between John Textor and Botafogo’s SAF investors/creditors. Suas decisions are definitive and have the force of a court ruling, which highlights the importance of the current verdict.