Brazil’s government has intervened for the first time in the chaotic finances of its football clubs through a presidential decree. However, they will have 20 years to pay off the $1.2bn of debt they have accumulated.
The government sees it as a strategy to modernise football. Clubs will not be able to spend more than 70 per cent of their earnings on professional football.
Brazil’s government has intervened for the first time in the chaotic finances of its football clubs through a presidential decree. However, they will have 20 years to pay off the $1.2bn of debt they have accumulated.
The government sees it as a strategy to modernise football. Clubs will not be able to spend more than 70 per cent of their earnings on professional football.
The question that comes to my mind is, are there sufficiently robust monitoring and enforcement mechanisms to ensure that the clubs fall in mind, given all the pressures to over spend? If not, the presidential decree won’t be worth the paper it was written on.