Allowed to come off contract by the Cherries this summer, Neto returns home to Brazil on a free transfer to Botafogo.
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Neto spent last season on-loan with Arsenal, where he made one competitive appearance.
The 36 year-old has signed a deal with Botafogo to 2027.
Neto also played for Barcelona, Valencia, Juventus and Fiorentina, among others, while in Europe.