Botafogo SAF CEO steps down after clash with John Textor | OneFootball

The CEO of Botafogo, Thiago Arruda, announced that he is stepping down from his position this Friday (6th), after clashing with the owner of the club’s SAF, American John Textor, regarding the club’s financing mechanisms.

Brazilian and Copa Libertadores champion in 2024, the ‘Glorioso’ is facing economic problems and is locked in legal disputes with Eagle Football Holding, the company that holds the club’s controlling stake, along with Lyon from France and Molenbeek from Belgium.

“Today it’s my turn to say goodbye,” Arruda posted on his Instagram account to announce the end of his four-year tenure at Botafogo.

“We went through recoveries, collapses, sleepless nights, tough decisions… We lived the best year in history in 2024,” he added. “Each phase left deep marks.”

Botafogo has been banned by FIFA from signing players since December 31 due to a debt with Atlanta United of MLS for the acquisition, in 2024, of Argentine Thiago Almada, currently at Atlético de Madrid.

According to the press, Arruda opposed the terms of a US$25 million loan (R$130 million at the current exchange rate) that Textor is securing to try to lift the “transfer ban.” In his message, however, he expressed “gratitude” to the American businessman “for inviting me to be part of this project.”

At the end of January, a court prohibited Botafogo from selling players and club assets, according to a decision reviewed by AFP. The crisis within the Eagle group exploded due to Lyon’s debts, which almost led to the team’s administrative relegation in France.

Textor was removed from his position as director of the holding, criticized for his management of the French club, but remains the owner of Botafogo. The American claims that the Brazilian club financed Lyon’s losses and demands that Eagle pay this debt.

*With content from AFP

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