A new law allowing Brazilian football clubs to operate as companies has opened the door for foreign investors to buy teams in the spiritual home of the “beautiful game,” following in Europe’s footsteps.
Passed last year, the law could help ailing Brazilian clubs turn their finances around.
After a century operating as non-profit associations, Brazilian clubs have started transforming their business models since Congress passed the “Football, Inc.” bill last August, encouraging the creation of SAFs, or “football corporations.”
Already, US investors have negotiated deals to buy historic Rio de Janeiro clubs Botafogo and Vasco da Gama.