Botafogo CEO reveals optimism for Nilton Santos concession extension and investors arrival

The grant of the Nilton Santos to Botafogo runs until April 2031. However, behind the scenes, the club is mobilizing to extend the deadline with the town hall. the CEO Jorge Braga, in an interview with “UOL”, explained the plans for the stadium.

– The stadium has enormous importance for the fans and clearly can be monetized better, as do many clubs around the world, either with matchday or another destination, such as concerts. For that, you need investment and return in some time to pay. The concession is only ten years old, it is a short term for large investors, who think about naming rights and structure. The first difficulty we are working on is the extension of the contract. The stadium has relevant debt associated with it, which we are working to reorganize and structure. Cia Botafogo’s debt is R$49 million. The investor starting from less than 50 is a big difficulty. But we are well advanced from the point of view of solving the debt and negotiating the extension of the stadium’s term and scope. We are very optimistic, we believe that Nilton Santos will bring great joy in the coming years – declared Jorge Braga.

The CEO revealed that he used to be a neighbor of the stadium and that he knows the surroundings well.

– I was raised in the region, on Rua Pernambuco, on the other side, I know the lack and the opportunity for a leisure area for the region. I have a personal issue with working on this project. Very recently, the municipality enacted a law that transforms the entire surrounding area into an area of ​​sociocultural interest, it is already the first step towards transforming it into a great center of inclusion, service and new revenues. Expanding the use of the stadium, with the integration of society, has a lot of capacity. All of this is possible. We are dealing with the concession’s financial, legal and regulatory issues. We are talking to a partner and well evolved. Taking everything into account, very quickly we will be able to give the destination we want to Nilton Santos – finished.