Botafogo's SAF admits it is on the brink of bankruptcy 💰❌

Botafogo's SAF admits it is on the brink of bankruptcy 💰❌

Botafogo’s SAF admitted that it is in a “pre-bankruptcy state” and is having difficulty paying the salaries of players and other employees.

The information was included in a filing submitted to the court that ordered John Textor’s removal from control of the Football Corporation, and was reported by ESPN.

The document requests the suspension of Eagle Bidco’s rights over Botafogo, as it is involved in a behind-the-scenes dispute with the American businessman.

In addition, it wants Durcésio de Mello, former president of Botafogo, to be appointed as manager of the club-company.

The SAF wants an urgent decision, especially because of the May 1 holiday, so it can meet its financial obligations to its employees.

The options for obtaining funds to cover the salaries of employees, football players, as well as obligations to suppliers, run into a common obstacle: the lack of stability in the management. No one wants to inject money, lend any amount, or negotiate players, given the shareholders’ inertia, without knowing who represents or will represent Botafogo SAF

Statement filed by Botafogo SAF

According to ESPN, the salaries of players and employees are due next Monday (4).

“There is no money to pay them,” the lawyers state.

The document argues that appointing Durcésio de Mello as SAF manager would provide the stability Botafogo needs to secure more financial resources.

The SAF says that this money could come “through bank loans — talks are already at a very advanced stage in this regard — or from the sale of a player — which is also being arranged.”

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.