RIO DE JANEIRO, BRAZIL – The Botafogo Investors Project, which seeks to decouple the soccer department from other of the club’s areas, is still in progress.
On Tuesday, October 15th, the team announced that the review of the business plan for this initiative would begin.
The official note explains that this stage will define “the actions and funds required for the expansion of Botafogo’s sports and maximization of its brand”.
The document further states that this is “a process developed in confidentiality. Therefore, further details will only be disclosed at the end of this stage, which is expected to be concluded within a few weeks”.
During the introduction of the new team manager, Alberto Valentim, the soccer vice-president of Botafogo, Gustavo Noronha, said that the club is experiencing a sensitive financial situation, with a debt of approximately R$800 million (US$200 million).
Source: Agência Brasil