Botafogo is finalizing a loan for Brazilian winger Nathan Fernandes to Ludogorets of Bulgaria, and the deal will include an obligation to buy. The 21-year-old, who previously joined Botafogo from Grêmio on a contract until the end of 2029, has already been in Bulgaria for the last few days awaiting the final agreement between the clubs to sign his contract. The transfer will be officially confirmed after the completion of bureaucratic procedures. Fernandes has five caps for the Brazil U20 national team. In the 2025/2026 Série A season, he made 4 appearances and provided 1 assist. His current Transfermarkt market value is €4.00m, a decrease from the reported €9.5 million fee Botafogo paid to Grêmio for his transfer in February 2025.