March 27, 2026

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Eagle Football Holdings clarifies Impact of Eagle Bidco Administration on SAF Botafogo

 

SAF Botafogo welcomes role of Administrator Cork Gully to reconcile financial claims

against Ares and Olympique Lyonnais

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Palm Beach Gardens, Florida, USA:  Eagle Football Holdings, today issued the following statement, to clarify the impacts of the Eagle Bidco administration on the affairs of SAF Botafogo.

 

The involvement of Cork Gully, a specialist in corporate restructuring, was an expected move, as Ares Capital Corporation has been attempting to take greater control of Olympique Lyonnais since the Spring of 2025.  While Eagle Football Holdings does object to, and contest the validity of, Ares' unilateral decision to appoint an administrator, Eagle Football welcomes the opportunity to work with an independent administrator to hold Ares accountable for its lender liability and violations of law (particularly in France).

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Cork Gully will conduct a comprehensive review of Eagle Football and will be required, by law, to consider the interests of ALL stakeholders...not just lenders, but all shareholders.

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The entry of Cork Gully does not change in any way the structure of governance of SAF Botafogo, which continues to be governed by its current board of directors, led by John Textor.

 

Mr. Textor also remains in leadership at Eagle Football Holdings Midco, which is the sole shareholder of Eagle Football Holdings Bidco.

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SAF Botafogo will cooperate fully with Cork Gully, just as it has cooperated with prior independent directors Stephen Welch and Chris Mallon.

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