Owner of Lyon, Michele Kang, declares Botafogo’s debt and awaits completion of the sale of SAF in Rio to negotiate
Lyon’s new owner, Michele Kang, spoke out publicly for the first time about the financial relationship with Botafogo. Amid discussions about the sale of the Rio de Janeiro club’s Sociedade Anônima do Futebol (SAF), Kang stated that the Brazilian team owes a debt to the French association.
At a press conference held this Friday, Michele Kang responded to questions about the intricate relationship between the clubs. She recognized the complexity of the negotiations that took place when the Eagle Football holding operated under the management of John Textor, on a single-fund basis, but reiterated that Botafogo owes money to Lyon.
The director explained that Eagle Bidco is responsible for the Botafogo sale process, and that Lyon has no direct involvement with this stage. Kang highlighted the importance of both clubs, Botafogo and Molenbeek, recovering their financial and historical autonomy to focus on success in their respective countries, receiving Lyon’s full support in this transition.
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The president of the French club said that once decisions about Botafogo’s future are made, there will be an opportunity for future conversations. She emphasized the need to wait for the entire Botafogo restructuring process to be completed before making any progress.
President of Lyon explains the complexity of the debt with Botafogo
From a financial point of view, the situation is delicate and difficult to detail in a few moments, according to Michele Kang. She highlighted that the financial statements audited and published every six months, in accordance with the rules of the Financial Markets Authority (AMF), clearly indicate that Botafogo owes money to Lyon. The executive reiterated the expectation that the process will be completed so that they can dialogue with the new owner.
Botafogo SAF negotiations scenario with the GDA
The sale of Lyon occurred simultaneously with the GDA’s negotiations to acquire SAF from Botafogo, which changed the outlook for a possible understanding between the two clubs. The path to continuing the talks now depends on the GDA finalizing the purchase of SAF Rio’s shares and then starting direct negotiations with Michele Kang. The outcome of these stages is awaited behind the scenes.
Clubs disagree on the amount of the financial outstanding
There is significant disagreement over the values in question. Botafogo, for its part, claims that it has amounts to receive from the French club. On the other hand, Lyon maintains that it has a credit of R$727 million to be received from Botafogo. Still under John Textor’s management, SAF black and white charged R$745 million from the French, illustrating the complexity and inversion of charges that arose under the previous centralized management model.
