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Monday, June 24, 2024

Brazil’s New Soccer League’s Big Ambitions

  • Two consortiums are vying to create a new soccer competition in Brazil.
  • The league's model is inspired by the English Premier League.

Brazil’s new league wants to compete with the English Premier League.

Two consortiums are vying to create a new domestic competition — inspired by the Premier League — in an effort to capitalize on the sport’s commercial potential and keep talent in Brazil longer. Many players currently go elsewhere for more money and better competition.

One key difference: Brazil’s competition will be controlled by clubs instead of the national federation.

“Our vision is that in 10 years we can reach the French league in terms of overall revenues,” said Lawrence Magrath, co-founder of Codajas Sports Kapital. 

  • Codajas’ Liga do Futebol Brasileiro project has support from 16 clubs in the country’s top two divisions.
  • It is reportedly in exclusive talks with Mubadala Capital over a $890 million injection for a 20% stake.

“We firmly believe that in 20 years we can be the second-biggest league in the world, only after the [English] Premier League,” Magrath said. “We have the raw materials and a time zone that’s consumer-friendly globally for transmissions.”

Project Proposals

A breakaway project called Liga Forte Futebol — formed after disagreements over how to split broadcast receipts — has support from 26 clubs and is in discussions with a group of unnamed U.S. investors.

Discussions with Brazil’s main broadcaster Globo are expected to start this year for contracts beginning in 2025.

“The objective is to have all 40 clubs from Serie A and B within a single proposal,” one source told the Financial Times. “The tendency now is to negotiate a merger.”

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