Law no. 14.193, 6 August 2021
[1] A new Brazilian Law enacted in August 2021 created a specific type of corporate entity for football clubs, opening the Brazilian market to new forms of investment and M&A transactions involving Brazilian football clubs, with reduced risks and greater legal certainty.
Introduction
On 6 August 2021, after more than five years of intensive debates in the Brazilian Congress regarding two bills of law addressing the matter of corporate football clubs, Law no. 14.193 (Corporate Football Clubs Law) was enacted.[1]
In short, the Corporate Football Clubs Law creates a specific type of corporate entity privy to - but not mandatory for - professional football clubs (the Football Corporation or Sociedade Anônima do Futebol - SAF) and provides for specific provisions applicable to such entities relating to (i) governance, control and compliance;...
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