Bunyodkor resolves €8.16mn, $1.11mn debt with Rivaldo and Denilson

The football club "Bunyodkor" from Uzbekistan has successfully reached an agreement with Brazilian football legends Rivaldo and Denilson regarding a longstanding financial dispute. This development comes following a protracted legal battle initiated by the players over unpaid dues owed to them by the club.

FIFA Decision and Arbitration

The resolution stems from a decision issued by the disciplinary committee of the International Football Federation (FIFA) on February 22. FIFA mandated Bunyodkor to settle a debt of €8.16mn owed to Rivaldo and $1.11mn owed to Denilson. This ruling was based on the club's failure to comply with a previous decision from the FIFA National Dispute Resolution Chamber (NDRC) in September 2017, a verdict that was subsequently upheld by the Court of Arbitration for Sport (CAS) on November 6, 2023.

Facing impending consequences if the debts were not settled within 30 days, Bunyodkor engaged in negotiations with the Brazilian players to resolve the matter before the deadline. The club, cognizant of the licensing requirements of the Asian Football Confederation, prioritized reaching a resolution by March 31 to ensure compliance.

Terms of Agreement

Under the terms of the negotiated settlement, Bunyodkor agreed to pay reduced amounts to Rivaldo and Denilson. Denilson's debt will be paid in three installments until 2026, while Rivaldo will receive annual payments until 2028. Although the exact figures of the reduced debt and the funding source for repayment were not disclosed by the club, it is reported that the state-owned enterprise Uzbekneftegaz will cover the outstanding amounts.

The financial dispute traces back to the tenure of the Quruvchi club, later rebranded as Bunyodkor, which was founded by the Neftegazmontazh company under the Zeromax holding conglomerate. The bankruptcy of Zeromax in 2010 exacerbated financial challenges for the club, leading to unpaid dues owed to Rivaldo and Denilson, among others.

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