A implementação das SAFs no futebol brasileiro: desafios jurídicos, econômicos e a proteção dos direitos dos clubes e das empresas

Abstract

This research aimed to analyze the implementation of the “Sociedades Anônimas do Futebol” (SAFs) in Brazil, focusing on the legal and economic consequences resulting from this transformation. The study sought to present the business model as a form of management in Brazilian football, understand the economic impacts of adopting SAFs, and assess the risks that inadequate management can pose to both clubs and the companies involved. To achieve this, the hypothetical-deductive method was adopted, with an exploratory approach, through bibliographic and documentary research involving legal doctrines, legislation, and real cases of clubs that transitioned to the SAF model. The analysis showed that SAF represents progress in the professionalization and financing of Brazilian football clubs, generating benefits such as debt settlement, increased investment, and institutional strengthening. However, it also revealed significant challenges, such as legal disputes, legal uncertainty, and risks of losing the historical identity of clubs, especially when governance between the original association and investors is poorly structured. The practical cases analyzed, such as Botafogo and Bahia, showed positive results, while the case of Vasco highlighted ongoing conflicts. Thus, although SAF brings relevant opportunities, its consolidation depends on regulatory improvements and a careful balance between economic interests and the social values of Brazilian football.