The measure is considered by John Textor’s management as another important step towards regularising tax and social security debts
Botafogo has settled more than R$6.5 million in debts of the social club with the Service Time Guarantee Fund (FGTS). According to the Rio club, “the measure represents another important step towards the regularization of tax and social security debts.” Botafogo CEO Thairo Arruda commented on the challenges of the SAF in managing the club.
“There are many challenges in the day-to-day management of SAF and in managing the liabilities of the Social Club. We continue to work professionally and responsibly to address the historic debt.”
Botafogo became SAF in 2022, after purchasing John Textor’s group, Eagle Holding Football. Since then, the club has worked to reduce debt.
The board is also negotiating Botafogo’s tax liabilities, with negotiations expected to close in mid-2025. In this scenario, the projection is to reduce the debts found in March 2022 by 57%, when John Textor’s group will have taken control of SAF.
Botafogo is also getting good results on the field. It currently leads the Brazilian championship and is in the quarterfinals of the Libertadores. Botafogo’s next match will be against Sao Paulo, this Wednesday, at 21:30 (Brasilia time). The Morumbis match is the second leg of the quarterfinals of the Libertadores.
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Source: Terra
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