In a statement, Benfica said Rui Costa, 49, currently the vice president of the country's most popular club, takes over as president 'with immediate effect, under the terms of the club's statutes'. Portuguese giants Benfica have appointed ex-player Rui Costa as president this weekFormer midfielder Rui Costa, who retired from international football after the 2004 European Championships, spent most of his career with Lisbon-based Benfica and with two Italian teams, Fiorentina and AC Milan. Local newspaper Sol said the investigation was related to loans granted by Portuguese lender Novo Banco to Vieira's business group as well as to the sale of shares in Benfica SAD. A parliamentary inquiry into Novo Banco found Vieira's business group owed the bank around 400 million euros. Portugal's Resolution Fund owns 25% of Novo Banco.

Source: The Nation July 09, 2021 23:03 UTC