As in Europe, the new legal statutes of Brazilian football clubs now allow the arrival of foreign investors. For now, only the clubs of Botafogo and Vasco de Gama, both in Rio de Janeiro, have non-Brazilian investors in their capital, from the United States. The opening to foreign capital was enabled by the adoption in August 2021 by the Brazilian Parliament of a change in the legal status of football clubs. From a non-profit association, they can become a football joint-stock company (SAF), the equivalent in France of professional sports limited companies (SASP), very close to the classic limited company which makes it possible to bring in the capital investors, to pay dividends, to remunerate the directors, and even to list the club on the stock exchange.
In Brazil, football clubs are opening up to foreign capital
