Botafogo’s SAF is announced in the British newspaper Financial Times and John Textor denies the risk of losing control

North American businessman John Textor minimized the publication of an advertisement for the sale of SAF Botafogo in the British newspaper Financial Times, which took place last Friday. The offer of assets was signed by Cork Gully, a consultancy that took over the administration of Eagle Football Holdings Bidco in March. Além from the Rio club, the advertisement listed Lyon, from França, and RWDM, from Bélgica, as goods available for purchase on the international market.

According to Textor, the move does not represent a real intention to get rid of the club, but rather the fulfillment of a mandatory rite of Inglaterra legislation. The owner explained that, as the holding company is under judicial administration in Reino Unido, the managers are compelled to carry out a public offer before any internal or private negotiation. The objective would be to guarantee transparency to creditors and shareholders about the market value of the assets managed by the administrative consultancy.

The legal protocol behind the ad on Financial Times

The presence of the Botafogo shield on the pages of one of the largest economic daily newspapers in the world caused surprise among Brazilian fans, but it is treated as standard procedure at Europa. Segundo the official position sent by Eagle Football, Cork Gully must follow strict asset advertising rules. Isso occurs because the management company has temporary control of the holding company that houses the clubs, aiming to reorganize the group’s debts and financial guarantees.

UK law requires that in receivership proceedings all interested parties have the opportunity to submit proposals. Mesmo that John Textor already has agreements in place to maintain control or for new contributions, the consultancy must formalize the search for external buyers to avoid legal questions from creditors. Lyon, which is publicly traded on the stock exchange, also classified the episode as a “legal obligation” arising from the headquarters of Eagle Football Holdings being located in English territory.

Offer details and status of Eagle Football clubs

In the text published on page 9 of Financial Times, Botafogo is presented to global investors as “one of the most traditional of Brasil”. The ad focuses on the structure of Sociedade Anônima of Futebol (SAF) and the brand’s exposure in the South American market. The list of assets placed under public scrutiny by Cork Gully includes fundamental points for the ecosystem assembled by Textor:

• SAF controlling interest in Botafogo, Futebol and Regatas;
• Majority shares of Olympique Lyonnais (Lyon), of França;
• Assets linked to RWDM (Racing White Daring Molenbeek), from Bélgica;
• Commercial exploitation rights and brands associated with the conglomerate Eagle.

This “request for proposals” process works like a formalized auction, where the absence of bids higher than Textor’s plans allows it to proceed with the originally planned restructuring. The businessman highlighted that the procedure is routine and that the strangeness in Brasil occurs due to the difference between local judicial recovery laws and the direct administration system used in Inglaterra.

John Textor’s view on project stability in Janeiro’s Rio

John Textor highlighted that there is no reason for concern on the part of the black and white fans regarding the continuity of management. The North American stated that he was already waiting for the publication of the notice by consultancy Cork Gully and that he maintains constant dialogue with the administrators. Para he, the measure only serves to validate the values ​​of the assets before the European financial market, protecting managers from future allegations that the assets were undervalued during the period of administrative intervention.

Botafogo’s momentum on the field, with disputes in continental and national competitions, helps the asset to be valued in advertising, but the focus remains on maintaining current governance. The English consultancy took over the arm of Eagle Football Bidco at the end of March with the specific objective of cleaning up cash flows and organizing guarantees given in international loans. Enquanto the rite is not completed, new publications of this type may appear in press vehicles specialized in economics abroad, following the schedule stipulated by the English court.

Textor’s strategy is now divided into two fronts: the clubs’ daily sporting operations and the bureaucratic resolution of the holding’s pending issues at Europa. Analistas point out that, although the announcement generates a strong visual impact, it is part of a technical step necessary for Eagle Football to exit the judicial administration regime with legal certainty. The businessman reinforced that current creditors have priority and that the public search for proposals is, to a large extent, a formality to certify that there was no favoritism in private negotiations.