This article analyses the implementation of the first Brazilian corporate model specific to football clubs, the “Sociedades Anônimas do Futebol” (SAFs). Even though the debate around creating a corporate model for football clubs is not new, the SAF legislation was promulgated only in 2021. In this sense, this article analyses the historical process of legislation, its legal adoption and its impact on the market. It demonstrates how this structure is gradually being accepted by the teams and the new possibilities it offers both investors and managers. Finally, this article draws a parallel between this societal model and the changes Brazilian competitions are undergoing, reshaping dynamics among stakeholders in the globalised world.
Historical Evolution
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