Brazil’s Senate passes bill with incentives for soccer clubs to become companies
RIO DE JANEIRO, BRAZIL – The Senate on Thursday, June 10, passed a bill that provides incentives for soccer clubs to become companies. The bill will now be forwarded to the Chamber of Deputies for a further vote.
According to the Senate news agency, the bill establishes the Brazilian Soccer System, by typifying Football Corporations (SAF). The bill further establishes governance rules, control and transparency, defines means of financing soccer activity and provides a specific tax system. According to the bill, the SAF model will submit clubs to Securities and Exchange Commission (CVM) regulation, which will enable raising funds by issuing debentures and shares.
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