FGV Tribunal Suspends John Textor From Botafogo SAF

Overview

• The private FGV arbitral panel removed Textor on Thursday, canceled the April 27 shareholders’ meeting, and set a re‑evaluation for April 29 after hearing both sides.
• The panel said the club’s court petition for judicial recovery, filed Tuesday without a shareholder vote, broke governance rules as the SAF reports debts in the billions of reais.
• Botafogo named former club president Durcesio Mello as interim director‑general to keep operations going and represent the company in the recovery case.
• The SAF asked the FGV chamber on Friday to reconsider the order, arguing arbitrators exceeded the parties’ requests and that a flagged share‑sale contract was only a draft; Textor says he will seek a reversal.
• Creditor Ares and court‑appointed administrator Cork Gully are courting new investors with a reported €50 million stabilization proposal, while the club advances the sale of defender Alexander Barboza to help cover wages.