11 August 2026
Update regarding USA, Brazil and UK Court Actions to re-establish Textor ownership of SAF Botafogo
Please consider the following update of certain proceedings underway in Frace,USA Matter (Textor vs Eagle Bidco, João Paulo Magalhaes Lins., and Augusto Montenegro)
On June 4, 2026, Mr. Textor filed an action for Declaratory Relief in the state of Florida, requesting a declaration from the court confirming that Mr. Textor is the owner of the shares of SAF Botafogo, currently representing a 90% ownership interest in the club. Mr. Textor also sought confirmation form the court that Eagle Bidco never paid the cash consideration required by the original agreement pursuant to which Mr. Textor intended to sell his SAF Botafogo shares to Eagle Bidco, and that such contract must be confirmed as void.
On August 7, 2026, we learned that Eagle Bidco would offer no defense against Mr. Textor’s claims of ownership. Mr. Textor’s attorneys, therefore, filed a motion requesting the Clerk of Court to enter an Order of Default against Eagle Bidco, which if later confirmed by the assigned judge, would mean that Mr. Textor remains the owner of the 90% share ownership of SAF Botafogo. We expect the clerk of court will enter an Order of Default against Eagle Bidco during this week.
UK Matter (Textor vs Eagle Bidco)
We have also today, August 10) learned that Eagle Bidco will not offer a defense in a hearing this week, in the United Kingdom, whereby we are seeking ’injunctive relief’ to stop the social club and the SAF from marketing and selling Mr. Textor’s shares. While injunctive relief (to stop a party from acting as they wish) is always challenging to secure, we are comforted to know that (counting Brazil) Eagle Bidco has now chosen not to oppose Mr. Textor’s claims of ownership in all three jurisdictions, where the matter is being adjudicated.
As we expect that Eagle Bidco will continue to not defend against Mr. Textor’s claims of ownership, then it is only a short matter of time before Mr. Textor is re-established as the owner of SAF Botafogo.
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July 23, 2026
[An update regarding today's curious decision by the lawyers of SAF Botafogo to file a petition, opposing the proper re-assignment of Eagle Bidco shares in SAF Botafogo to the rightful owner John Textor. Normally a corporation should have no legal standing to opine on which party should hold its shares, but today, the lawyers for SAF Botafogo allowed the minority owner Social Club's opinion to be represented to the Court as the official position of the SAF corporation, arguing that the corproration would rather have Eagle Bidco retain its holdings, and not Mr. Textor.]
To all Champions, all Botafoguenses
If there is any question that the current Social Club leadership of our beloved club has lost its moral compass, one only need to look at the dramatic change between the legal positions of SAF Botafogo, only 10 weeks apart.
Today, in a dispute between myself and Eagle Bidco, regarding my ownership of the 90% interest in SAF Botafogo, the very same lawyers who, only weeks ago, argued before the Court that Eagle Bidco represented one of the greatest threats to the stability and future of SAF Botafogo have now filed a petition arguing the exact opposite.
This is not my opinion. It is documented in the court filings and in the WhatsApp messages that I am publishing along with this statement.
At that time, everyone involved understood exactly what was happening. There was a clear path to recapitalize SAF Botafogo and move the club forward. The messages show that this was the shared understanding of everyone participating in those discussions.
The documents also reveal something equally important: these same lawyers were directly involved in the repeated struggle to obtain the signatures and approvals necessary, from the Social Club, to release new investment into SAF Botafogo. They knew firsthand the obstacles that were being created and the damage those delays caused to the club.
Yet, by late April 2026, I was finally assured of the full support of Botafogo’s Social Club, as its president made clear to me that the combination of myself and the Joorchabian/Marinakis partnership would be a dream scenario for Botafogo. Therefore, under my leadership, SAF Botafogo instructed its lawyers to suspend the political rights of Eagle Bidco, leaving only the Social Club (as a 10% shareholder) with the power to vote. If successful in court, I was confident that the Social Club would vote to approve our large investment of new capital, to prevent transfer bans, and save the club. Afterall, it was the president of the Social Club who said, "Let's bring Kia!".
So, the three powerful and influential law firms prepared a judicial petition making clear what we have long known, that the forces behind Eagle Bidco were trying to harm Botafogo, in favor of their protectorate, Olympique Lyonnais. Such lawyers, on behalf of myself and the Social Club, made convincing arguments that Eagle Bidco’s political rights must be suspended, which would allow us to pass shareholder resolutions that would allow me to invest necessary new capital. Recall what the powerful lawyers of SAF Botafogo argued, against Eagle Bidco, only weeks ago:
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Eagle Bidco made frequent and increasingly violent attacks on SAF Botafogo’s management, attacking Mr. Textor and Mr. Durcesio Mello
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Eage Bidco is responsible for SAF Botafogo’s state of insolvency
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Eagle Bidco failed to take steps to invest capital into SAF Botafogo, and now prevents Mr. John Textor or investors from doing so
Our lawyers argued effectively that Eagle Bidco was a great threat to Botafogo, and the Honorable Judge Marcelo Mondego De Carvalho Lima did, in fact, grant our SAF Botafogo petition and suspend the political rights of Eagle Bidco.
The SAF lawyers celebrated the court decision suspending Eagle Bidco’s political rights. They congratulated me for having “the courage to make the right decisions” and worked alongside me to build a solution that would bring new investment into the club, prevent transfer bans, and restore stability to Botafogo. (Link to Whatsapp Messages).
Fast forward to today, as I, John Textor, am prepared to defeat the interests of Eagle Bidco, and prove that I am the rightful owner of the 90% shares of SAF Botafogo, so that I may once again invest in our Glorius club. The Honorable Judge Luiz Eduardo Canabarro has rightfully opened his mind, and his court, to consider the opinion of SAF Botafogo which, based on the expressed beliefs and petitions of the SAF lawyers, should already be known (that the SAF and the Social Club would strongly favor Textor, over Eagle Bidco).
Yet today, those very same lawyers, who only recently argued that the greatest threat to the existence of SAF Botafogo was Eagle Bidco, now stand in front of the Honorable Judge Canabarro, to preserve Eagle Bidco’s position and oppose the return of the person who re-built Botafogo into a champion, who has is the rightful owner of those shares, and who remains prepared to invest immediately today, with even stronger partners for the future. Also of concern, the SAF lawyers (now working for the Social Club) have brazenly misled the court, misrepresenting the audited financials of Eagle Bidco which clearly show that 'consideration' remains payable by Eagle Bidco, and that Eagle's Completion Obligations (per the contract) were never performed.
I confess that I struggle to understand such a complete reversal. What changed? The facts did not change. The documents did not change. The WhatsApp messages did not change. Only the position of those, who just weeks ago argued precisely the opposite, has changed.
It is also impossible to ignore the evidence that, just as a solution appeared to have been reached, other forces began working to unravel that agreement. The messages help tell that story and allow every Botafoguense to reach their own conclusions. That is why I am publishing these documents. Not to attack individuals, but to allow everyone — including the Court — to compare what was being argued only weeks ago with what is being argued today.
Finally, as I remain committed to providing immediate solutions, to stabilize the club and invest heavily in the continuation of our beautiful project, I have today filed a petition to make it clear that I remain the owner of 90% of SAF Botafogo, and the corporation that I own, SAF Botafogo, cannot intervene in this dispute of ownership dispute between myself and Eagle Bidco.
Have faith Botafoguenses,
Championships are made of Love, and they are sustained by Truth.
We will be Champions again.
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June 26, 2026
To all Champions, all Botafoguenses
We are pleased to report that on June 26, 2026, the board of directors of SAF Botafogo unanimously approved two separate financing transactions, designed to support the club through the 2026 football calendar and beyond.
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The board of directors approved a $50.0 million convertible loan facility, designed to convert into permanent equity (ownership) upon the successful completion of the SAF Botafogo's judicial recovery procedure. Such conversion into equity ownership is also subject to shareholder approval.
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The board of directors also approved a debtor-in-possession (DIP) facility of, up to, $50.0 million, which is subject to approval by the court. Based on the successful consummation of the $50.0 million convertible loan facility, the board anticipates a draw-down of no more than $25 million from the DIP Facility.
The board of directors approval was made possible by the ruling of Luiz Eduardo C. Canabarro on June 19, which ordered the annulment of certain decisions of the Arbitral Tribunal and the return of Mr. John Textor into his leadership roles at SAF Botafogo. Mr. Textor was, therefore, reinstated into the positions of Chairman of the Board, President, Chief Executive Officer and sole Statutory Officer.
On June 24, responsive to a request for clarification by a shareholder of SAF Botafogo, the Court re-affirmed its prior ruling, which reinstated Mr. Textor into his previously held officer and director positions. The Court also acknowledged the validity of a decision of the shareholders, previously rendered , which appointed Mr. Eduardo Iglesias into the position of 'interim manager', where he joins Mr. Textor in leadership of SAF Botafogo.
Based on the clear and unambiguous rulings of the Court, the board of directors retains authority to deliberate on, and approve, financing transactions that will assure the financial viability of SAF Botafogo. The board also reserves the right to instruct and authorize management, Mr. Iglesias and/or Textor, to carry out the decisions of the board.
The board of directors of SAF Botafogo, therefore, looks forward to the execution of all directions, and the consummation of all financings, authorized and approved at its meeting of June 26, 2026.
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June 24, 2026
To all Champions, all Botafoguenses
In my first act returning as President, I have asked the SAF lawyers to assure court approval of a $75 million financing, which will bring immediate cash to the club. The financing will be comprised of a $25 million credit facility, and a $50 million cash equity infusion, from a consortium to include Evangelos Marinakis, Kia Joorabchian and myself. Our partnership creates a dream scenario for the championship ambitions of our glorious club, bringing together global football experience, deep pockets of capital, and a true love of Brazilian football.
We have respectfully asked leadership of the social club to stand down, and to take no measures of obstruction, at this critical time. The current proposal of the social club with GDA is extremely flawed, laden with avarice and ego. We already know the social clubs opinion is driven by the egos of a few men, but it is the toxic ambition of GDA that is most concerning. They invested only $12.5 million dollars and they want to earn interest income of $15 million. If they were sincere about helping the club, they would have funded the original $50 million commitment they promised me, in a healthy form of investment. If they were sincere about helping the club, they would have prevented the transfer bans. GDA, this is just a money play.
For me, and my partners, this is a love affair that will deliver championships.
It is time to end this nonsense and bring the family back together. I need all Botafoguenses to ask the social club to stand down, and let the money come into the club, from people that know Brazilian and Global football. This is a dream team, built for the ambitions of the glorious and most traditional club of Brazil. Vamos Botafogo.
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7 de abril de 2026
A todos os Campeões, a todos os Botafoguenses
Como movimento de grande relevância pública e com o compromisso de atualizar a apaixonada torcida alvinegra sobre o andamento das questões societárias, gostaria de compartilhar os detalhes de uma Carta-Proposta enviada ao Clube Social na noite desta segunda-feira:
- Apresentei formalmente o interesse de investir, com capitais próprios, US$ 25 milhões (R$ 128,5 milhões, aproximadamente, no câmbio atual) adicionais na SAF Botafogo através de aporte financeiro, reforçando meu compromisso contínuo com o sucesso de longo prazo do Clube. Este investimento está estruturado como um aporte de capital próprio (equity), com injeção de recursos na SAF em troca de ações ordinárias, fortalecendo a posição financeira do clube de maneira sustentável e responsável.
- Os 10% de participação do Clube Social permanecem preservados, conforme previsto no Acordo de Acionistas, sendo a capitalização viabilizada por meio da emissão de novas ações. Trata-se de um investimento e não de um empréstimo, ou seja, dinheiro novo e saudável entrando no clube.
- O aporte se soma à contribuição de US$ 25 milhões (R$ 128,5 milhões) previamente assegurada junto à GDA Luma e à Hutton Capital, totalizando US$ 50 milhões (R$ 257 milhões) em capitalização para apoiar a estabilidade financeira e as ambições esportivas do Botafogo.
- Desde Janeiro deste ano, a SAF está aguardando uma autorização do Clube Social para a entrada de equity. Hoje, reitero esse pedido formalmente para a que possamos seguir com o processo de capitalização. O aumento de capital tem como objetivo garantir liquidez imediata e de médio prazo, incluindo obrigações com folha de pagamento, ao mesmo tempo em que fortalece o balanço patrimonial por meio de equity, em vez de dívida adicional.
- Sigo comprometido em apoiar o Botafogo e garantir sua operação continuadamente, mas não posso fazer isso sozinho. O apoio e autorização do Clube Social são essenciais para seguirmos com o investimento e manter a força financeira da SAF.
- Estou pronto para continuar financiando o Botafogo e ansioso para trabalhar em colaboração com todos os interessados para garantir estabilidade, continuidade e sucesso do nosso projeto esportivo.
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April 7, 2026
To all Champions, all Botafoguenses
As a matter of significant public interest, and with a commitment to keeping our passionate Botafogo supporters informed about the progress of corporate matters, I would like to share the details of a Proposal Letter sent to the Social Club on Monday evening:
- I formally expressed my interest in investing an additional US$25 million (R$128.5 million) of capital into SAF Botafogo through a financial contribution, reinforcing my continued commitment to the Club’s long-term success. This investment is structured as an equity contribution, with capital injected into the SAF in exchange for common shares, strengthening the club’s financial position in a sustainable and responsible manner.
- The Social Club’s 10% ownership stake remains preserved, as provided in the Shareholders’ Agreement, with the capitalization to be carried out through the issuance of new shares. This is an investment, not a loan. In other words, new and healthy capital entering the club.
- This contribution is in addition to the US$25 million (R$128.5 million) previously secured through GDA Luma and Hutton Capital, totaling US$50 million (R$257 million) in capitalization to support Botafogo’s financial stability and sporting ambitions.
- Since January of this year, the SAF has been awaiting authorization from the Social Club to allow capital to enter in the form of equity. Today, I formally reiterate this request so that we may proceed with the capitalization process. The capital increase is intended to ensure immediate and medium-term liquidity, including payroll obligations, while strengthening the balance sheet through equity rather than additional debt.
- I remain committed to supporting Botafogo and ensuring its continued operations, but I cannot do this alone. The support and authorization of the Social Club are essential to moving forward with this investment and maintaining the SAF’s financial strength.
- I am ready to continue funding Botafogo and look forward to working collaboratively with all stakeholders to ensure stability, continuity, and success for our sporting project.
Inquiries:
Eagle Football Holdings Limited