January 28 – Private equity investment firm Ares Management has moved to take control of Eagle Football Holdings from American businessman John Textor.
Brazilian newspaper O Globo reports that Ares, which provided Textor (pictured) with financing for the acquisition of Olympique Lyon and other clubs, activated a clause after Eagle Football failed to meet specific financial obligations. It would end Textor’s operational command over the holding group that spans clubs in France, Belgium and Brazil.
The shake-up will not immediately affect day to day operations at Botafogo. The Brazilian SAF (Sociedade Anônima do Futebol) structure will provide a level of legal insulation from the holding company’s immediate debt…