Overview

• Christopher Mallon resigned as the independent director of Eagle Football Holdings, effective October 15, citing personal reasons, according to O Globo and The Athletic.
• Per the “override” agreement with Ares, the creditor will present a three-candidate list and John Textor will make the final selection, with veto power over the appointment.
• The independent seat was created after recorded contractual breaches and had carried a decisive vote on strategic matters, limiting Textor’s authority within the holding in recent months.
• In a new interview, Textor said Botafogo will remain under the Eagle consortium, identified himself as majority partner and sole director of MIDCO, and noted the BIDCO board currently includes him, Ares’ Mark Affolter and Mallon, with changes expected.
• He rejected talk of a dispute with the club social and stated Eagle’s shareholders will keep funding the club, arguing Botafogo’s governance is sound and distinct from Vasco’s 777 situation.