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Textor regrets ‘lack of respect’ for SAF legislation, lists problems to explain cash flow at Botafogo but reassures followers: ‘I always put in more money than I promised

Major shareholder of SAF do Botafogo, John Textor defined LIVE on the channel of COGÃONET on Youtube (see beneath) the cash flow problems the membership had at the top of final yr, which in the end led to some cost delays.

The American businessman complained in regards to the poor understanding of SAF Act by some legal professionals and judicial authorities he talked about that he has to pay loads of money owed to the social membership and that he doesn’t have entry to the tv quotas of Globe and never even the prize Brazil Cup final yr.

– It is essential to discuss in regards to the contract I made with the social membership. In the contract in the primary yr I may have to contribute R$ 150 million. Fans count on a transparent departure from the previous from SAF: “Now now we have an investor, now we have to take into consideration the long run, now we have to transfer ahead.” I’d like to suppose so. 20% of income was anticipated to go to CER (Centralized execution system) to repay outdated money owed of the social membership. The Air Force Act is meant to assist us, but it is damaged, it is not working. First time saying it right here. We will not be prepared to land in the long run as a result of the ghosts of the previous maintain interfering. I consider in a brand new legislation and we’re the primary, together with Cruzeiro and Vasco, to experiment with this new legislation. In the primary yr, despite the fact that I promised BRL 150 million, I put in BRL 200 million – Textor began.

– From the start, we realized that Brazilian judges and courts weren’t cautious in deciphering the SAF legislation. I consider we must always take care of the SAF and never fear about previous problems. All collectors of the membership have to be throughout the RCE, deposit 20% in courtroom and never intervene with the work of the SAF, he continued.

Textor then went on to cite examples of the problems SAF had to cope with due to the social membership’s money owed.

Now every part is quiet, every part is present, but I need to explain what occurred at the top of the yr. I will give some examples. In the primary recreation of the yr at Nilton Santos a gentleman got here to set up his LEDs as it’s our property. I did not know who he was, he confirmed me the contract, went to courtroom and the decide gave him the case. We labored to discover new sources of revenue and one of the properties. We have not had every week go by with out a previous social membership downside interfering with our operations..

If the federal government passes a legislation but the judges don’t comply with it or disagree with it, it is extremely troublesome to summary from the previous. We are working very effectively with the social membership to discover options as a result of the SAF Act doesn’t shield us correctly. individual from Ferge, after we took over SAF saddled us with a historic debt of R$5 million and threatened that we might not give you the option to register gamers. We had an influence firm that went to Lonier and mentioned the outdated Botafogo owed them money and tried to reduce our energy, we had to pay instantly so it would not reduce the facility. We gained R$ 3.5 million from the Copa do Brasil prize and CBF they took the money as a result of the social membership owed them a historic debt. We despatched letters to the CBF and by no means acquired a response.

The TV contract comes on a month-to-month foundation, not each month. In June, we have been spending money investing in gamers, counting on Globo’s money, and that money didn’t come. Apparently, two social membership presidents earlier than Durchesio signed a doc giving Globo a contract as a assure for a tax debt to the federal government. This identical debt was renegotiated with the federal government, being paid on time. However, a federal prosecutor determined to salvage that outdated contract and say the money was his. It was loads of money. The TV contract is the SAF’s largest earner and was taken out of the blue.

– And our largest downside is the unpredictability of the influx of funds, as a result of they warn us someday in advance that the money will not be introduced in. The identical authorities that authorised the SAF legislation has our bodies that find yourself creating problems for us. Even the federal government, the federations, nobody is following the SAA Act. There are many surprises, I invested more money than I promised. I don’t desire to hassle anybody, but I need to make it clear that these are on a regular basis problems, I have to struggle with referees, federations, on many fronts.

John Textor mentioned funding continues to be being made in Botafogo soccer, above expectations:

– In this context of the switch window (in June final yr) I had to journey to Brazil to strive to cash in some income for SAF. The membership is roofed, don’t be concerned, we make investments, I always put more money than promised, now we have a Top 6 wage account. We are very a lot in settlement with the social membership that’s wanting for another answer to definitively separate the problems of the previous from the long run.

Watch FOGÃONET LIVE with John Textor:

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