Botafogo released its 2023 financial results on Thursday, showing a revenue increase to R$355.238 million from R$141.688 million in 2022.
Despite the rise in revenue, the club ended the year with a R$101 million deficit, an improvement over the previous year’s R$248.2 million deficit.
The revenue boost was primarily due to the sale of Jeffinho to Lyon and successful performances in various competitions.
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Club owner John Textor made a significant financial contribution by paying the fourth installment of R$113.9 million last week, as part of the terms agreed upon during his 2022 acquisition of the club. With this payment, only R$50 million remains due in 2025, further aiding the club’s financial stability.
Textor words on the report
Botafogo’s 2023 financial report was accompanied by a message from club owner John Textor, emphasizing the transformative efforts and broader goals beyond financial success. Textor highlighted the club’s aim to enhance player happiness and the life quality of everyone associated with Botafogo, stating his role as more than a financial investment.
Mensagem de John Textor que consta na publicação do balanço de 2023
"O maior produto de todo trabalho realizado pela Eagle Football e o que mais me motiva investir meu tempo e paixão no futebol brasileiro é a felicidade do torcedor do Botafogo. Ter a oportunidade de ser um… pic.twitter.com/Sgk0yKPiv3
— Botafogo F.R. (@Botafogo) May 2, 2024
Textor expressed his deep connection to the club: “I live this club, I am passionate about the fans. Being part of the Glorioso family was one of the greatest decisions of my life.”
He detailed the progress since the establishment of the Soccer Association Formation (SAF) in 2022, noting that 2023 continued the trend of investment and development. Key investments included enhancing organizational planning, contract management, and professional recruitment, alongside a significant increase in funding for youth development—from R$4 million in 2022 to R$20 million in 2023.
Textor also highlighted Botafogo’s achievements in professional football, with the team qualifying for the Conmebol Libertadores for the first time in seven years and contending for the Brazilian Championship title.
He concluded his message by affirming Botafogo’s commitment to excellence and strategic growth, promising to advocate for fairness and professionalism in Brazilian football.
Remembering Zagallo
Sambafoot Series launched a new documentary about the football legend Zagallo. Known as ‘Velho Lobo‘ and as superstitious as it gets, Zagallo helped shape what Brazilian football is nowadays — as a player and as a coach.
Binge the first four episodes available on Sambafoot’s Youtube channel. Stay tuned for upcoming releases as we keep telling this legend’s life story.
