Two consortiums are vying to create a new soccer competition in Brazil, inspired by the English Premier League, according to a report in Front Office Sport, this last week.
Abigail Gentrup writing for Front Office Sports noted that CBF Brazil’s new league wanted 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,” the report said.
It added that the one key difference was Brazil’s competition will be controlled by clubs instead of the national federation – the FA in case of the English league.
“Our vision is that in 10 years we can reach the French league in terms of overall revenues,” Lawrence Magrath, co-founder of Codajas Sports Kapital, was quoted as saying by Front Office Sports.
Codajas’ Liga do Futebol Brasileiro project has support from 16 clubs in the country’s top two divisions, according to the website.
It is reportedly in exclusive talks with Mubadala Capital over a $890 million injection for a 20% stake, the report added.
“We firmly believe that in 20 years we can be the second-biggest league in the world, only after the [English] Premier League,” Magrath was quoted as saying. “We have the raw materials and a time zone that’s consumer-friendly globally for transmissions.”
Another breakaway project called Liga Forte Futebol — formed after disagreements over how to split broadcast receipts — had support from 26 clubs and was in discussions with a group of unnamed U.S. investors, Front Office sports stated.
Discussions with Brazil’s main broadcaster Globo are expected to start in 2023 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 as per Front Office. “The tendency now is to negotiate a merger.”
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