Botafogo SAF Rejects Eagle Deal Limiting Textor’s Authority

Overview

• SAF attorneys filed a petition late on Sept. 17–18 rejecting Eagle’s proposed agreement, calling it a contract of adhesion with a two‑day acceptance deadline.
• The filing said the conditions “do not justify themselves at this stage” and acknowledged negotiations between John Textor and co‑investors are not concluded.
• A Sept. 12 General Assembly resolved not to implement any acts approved on July 17, including steps tied to a potential transfer of SAF assets to a Cayman entity.
• Eagle, which holds 90% of the SAF, seeks court suspension of the July 17 decisions and had asked to require independent director Christopher Mallon’s participation in all SAF matters.
• The SAF also opposed Eagle’s request to insert Mallon into strategic decisions, while Textor has told the court he will not transfer assets to a Cayman holding despite lingering distrust from partners.