Decision at Lyon with Michele Kang brings new impetus to the negotiation of the sale of Botafogo to GDA Luma
The agreement sealed last Tuesday (23) for businesswoman Michele Kang to take full control of Lyon, a French club, has direct implications for the sale process of Botafogo’s Sociedade Anônima do Futebol (SAF) to GDA Luma. At an advanced stage of talks and with a binding contract already signed with Gabriel de Alba’s company, the Rio club sees the European move as an important strategic advance.
With the consolidation of Michele Kang in charge of Lyon, a crucial step was taken for Botafogo to separate itself from the Eagle Football structure, which was under the administration of Ares and Cork Gully. This transition provides essential clarity for Alvinegro’s next moves, simplifying the complex web of financial interests that surrounded the operation.
The future of the sale of Botafogo
Botafogo’s SAF, since John Textor’s management, faced a financial dispute with Lyon regarding the transfer of funds within Eagle Football’s single cash operation. Previously, the French side disputed this debt, and Ares, Eagle’s main creditor, made any resolution difficult. However, the arrival of Michele Kang as Lyon’s leader pacified the atmosphere for the black and white club.
Cork Gully, appointed judicial administrator in the Eagle Football operation, began selling all of the company’s assets, including Botafogo, Lyon and RWDM Brussels. Michele Kang expressed interest in acquiring Lyon, just as Gabriel de Alba was interested in Botafogo. The main objective behind these negotiations is to alleviate the heavy billion-dollar debts that affect the clubs.
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The next stage for Botafogo consists of completing the acquisition of 90% of its SAF shares by GDA Luma. Afterwards, discussions will be directly with Michele Kang and Lyon, although the South Korean businesswoman already points out disagreements in the values requested by the Rio club, in addition to arguing that the financial issues are mutual.
With president João Paulo Magalhães Lins on an international trip, Botafogo management is confident that the situation will be fully resolved next week. The club’s expectation is to receive contributions from GDA Luma to resolve payments and facilitate new signings, in addition to seeking a solution from FIFA to suspend the six “transfer bans” currently in force.
