Botafogo explains the request for adoption of the Centralized Execution Regime and mentions the process of change to S/A

O Botafogo filed, last Monday (8/23), a request at the Regional Labor Court of the 1st Region to adopt the Centralized Execution Regime, a mechanism of fundamental importance to organize, in a queue, the payment to creditors, enabling the Club can fulfill their employment obligations in an orderly manner.

The claim is based on articles 14 to 17 of the “Club-Company Law” (LAW No. 14.193), recently sanctioned by the Federal Government.

As is public knowledge, Botafogo is structuring itself to join the project “Botafogo S/A” and to the aforementioned law of the Sociedade Anônima do Futebol (SAF), which provides for rules of constitution, governance, control and transparency, means of financing football, treatment of liabilities of sporting entities and specific tax regime. There is a solid internal movement to professionalize management to prepare the Club for the change of key.

The recent decision of the Regional Labor Court – 1st Region, which determined the Special Regime for Forced Execution (REEF), is an acute and unexpected complicating factor for Botafogo’s management plans and for the creditors themselves, who will certainly be the most harmed in this case. aggressive and priceless billing model is maintained.

Botafogo is aware of its financial reality, of existing debts and is fully interested in making agreements and complying with them. There is a willingness to build a model that makes dealing with liabilities sustainable. In the last Financial Statement, publicly presented and without qualifications from the audit, the situation was reported in a responsible and transparent manner. This is the path you want to follow.

Botafogo trusts in Justice and in the reconsideration of the magistrates.