Rio De Janeiro, Jul 1 (IANS): Brazilian Serie A leaders Botafogo have parted ways with Luis Castro after the Portuguese manager accepted an offer to join Saudi Arabia's Al-Nassr.

The 61-year-old agreed to pay a fine of 12 million reais (around 2.5 million US dollars) to terminate his contract with the Rio de Janeiro club, which had been due to expire in April 2024, reports Xinhua.

"We thank (Castro and his backroom staff) for their services and wish them the best of success in their future endeavors," read a statement on Botafogo's official website.

Castro led Botafogo to 41 wins, 14 draws and 21 losses after taking charge of the club in March last year.

The Glorioso have made their best start to a Brazilian top flight campaign in more than 30 years and have a seven-point lead over second-placed Gremio.

According to local media reports, former Benfica and Wolverhampton Wanderers boss Bruno Lage is Botafogo's preferred option to replace Castro.