Botafogo members expressly approved, this Friday (14), the change in the club’s statute that will allow the sale of the SAF (Soccer Anonymous of Football) alvinegra to John Textor. The North American businessman will buy 90% of the new company, with a promised investment of R$ 400 million.
In a general meeting with in-person and virtual voting, 722 partners spoke in favor of the transaction, and 11 were against it, with 7 abstentions. Last Thursday (13), the statutory amendment had already been approved with a large advantage in the Deliberative Council: 167 votes in favour, three against and one abstention.
Now, the 56-year-old businessman and Botafogo have two months to tie up details of the 30-year concession contract. There is already an expectation of an initial investment of R$ 50 million. After the officialization of the agreement with Eagle Holdings, from Textor, another R$ 100 million will be invested in the football club from Rio de Janeiro.
The votes on Thursday and Friday were accompanied by fans celebrating in the surroundings of the team’s headquarters, in General Severiano. After years of difficulties, with successive relegations in the Brazilian Championship, they believe in the possibility of forming a stronger squad, capable of being competitive in the first division.
For this, Botafogo decided to adopt the club-company model, approved by the National Congress and sanctioned by President Jair Bolsonaro last year. The white-and-white association created its SAF and will pass nine tenths of it to Textor. The other 10% of society will stay with the social club.
“We are managing to rescue Botafogo so that the club can bring joy to the fans again”, said the black and white vice president, VinÃcius Assumpção. “A year ago, we found a club in ruins. And, in a year, we managed to give the fans a perspective of the future. Now, it’s starting a new era.”
For the beginning of the new era, it was necessary to change the following section of the association’s statute: “The detention and maintenance of the majority of the voting capital will be ensured”. In yesterday’s vote, the associates had to answer the following question: “Does it authorize or not the exceptional application of the aforementioned statutory provision?”.
The answer of the vast majority was yes.
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