Atlanta United, Botafogo reach settlement on Thiago Almada

Atlanta United’s monthslong pursuit of money owed from the sale of Thiago Almada to Botafogo took a step toward completion on Friday with the first payment made toward the $31.5 million owed.

The pursuit involved FIFA, the Court of Arbitration for Sport (CAS) and numerous negotiations.

“Today, we can confirm that Botafogo will pay the full transfer fee, plus interest, under the terms of this settlement,” a portion of a statement from the team said. “We appreciate the decisions by FIFA and CAS, which reinforce standards that promote a fair and sustainable international transfer market.”

Atlanta United declined to provide any more information about the settlement, citing a confidentiality clause.

The settlement will be paid in parts and follow a schedule, according to a person with knowledge who declined to say how many payments were agreed to. The person said that should Botafogo miss a payment, the penalties will be severe, including a much higher interest rate on the remainder owed and a recommendation to FIFA to impose another transfer ban, which the Brazilian club agreed to.

Friday’s initial deposit ends a business agreement that began almost 20 months ago.

Atlanta United sold Almada to Botafogo on July 6, 2024, for a base fee of $21 million. The contract included incentive clauses, interest fees and a sell-on clause, which guaranteed Atlanta United would receive a percentage of any future revenues if Almada was sold again.

It didn’t pay.

Atlanta United filed a lawsuit.

FIFA ruled in Atlanta United’s favor in February 2025. Botafogo appealed.

Almada was sold to Atletico Madrid in Spain in July 2025 for a reported $29 million.

Added together, Botafogo owed Atlanta United $30 million.

The Court of Arbitration for Sport, the final arbiter, ruled in Atlanta United’s favor in early December 2025 and ordered Botafogo to pay the $30 million by Dec. 26. The holdup, according to the person, centered on the escalation clause that required Botafogo to pay the entire amount owed, rather than pay in installments.

It didn’t pay.

On Dec. 31, FIFA placed Botafogo on the transfer ban list for three windows, starting with the next one in January. The ban meant the club could sell its players, but it couldn’t register any players it wanted to buy. Selling without being able to buy can cripple a club because it drains its talent. It’s one of the toughest punishments a club can receive.

The two sides continued to negotiate for the next month.

The resolution was reached Friday.

It was one of the more unique transfer conflicts in MLS.

Almada was purchased by Atlanta United in February 2022 for $16 million. It was the continuation of the South American pipeline that Atlanta United had successfully used to purchase Miguel Almirón, whom they bought from Lanus for $8.7 million in December 2016, and sold to Newcastle for a base fee of $20 million, which increased to $27 million with incentives. Ezequiel Barco and Pity Martinez were also standouts, bought with the hope that they would improve and could be sold for a higher fee. Those didn’t work out as well as Almirón or Almada.

Almada played well enough for Atlanta United with six goals and 12 assists in 2022 that he was a part of the Argentina team that won the World Cup in Qatar that summer. He was the first active MLS player to appear in a World Cup.

Almada finished his Atlanta United career with 23 goals and 17 assists.

Atlanta United’s first president, Darren Eales, and its next president, Garth Lagerwey, consistently said they would sell players if the terms were favorable and the move would be good for the player.