Botafogo increased borrowings as Textor spreads the cash around
May 7 – Botafogo has borrowed R$333 million ($65.6 million) from American owner John Textor, but not all the cash has remained in the club.
Brazilian media report that Botafogo’s financial accounts reveal that the club agreed the loan with XP Investimentos in 2023 as working capital, and that part of the money was transferred to Belgian club RWD Molenbeek, one of the other clubs in the Eagle Group portfolio. The Rio club also borrowed money from financial institution Money Plus (R$20 million/$4 million) and from Brazilian bank Daycoval (R$16.9 million/$3.3 million).
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