The original plan, presented on 10 July, included a concept of "partes isentas" (exempt parties) that protected Eagle Bidco and other related parties from creditor claims. However, the updated plan excludes any shareholder who is a related party or part of the same economic group as a related party. This means that Eagle Bidco can now be held liable for debts.
The SAF Botafogo also cited a transfer of 146 million euros to Lyon, a former club of Eagle Football, between March 2024 and April 2025. The club argues that these transactions occurred under the previous system of a single cash box used by the multiclub network. The updated plan also excludes loans previously authorized by creditors, which will remain outside the recovery plan.
The new plan still needs to be approved by the Ministry of Public Prosecution, the judge, the administrator, and the creditors of the SAF Botafogo. The plan may undergo further changes before the General Assembly of Creditors (AGC).