New ownership rules have turned Brazilian soccer into an investment opportunity, Dan Kelsall, Chris Sanchez (alixpartners.com)

Brazilian soccer clubs have traditionally been structured as non-profit associations, led by powerful club presidents elected by the club’s members every three or four years. Long-term financial planning has often taken a back seat to populist promises focused on short-term, on-field success; these promises are typically made with an eye on the next election cycle.

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