London Olympics Deals Have Yielded $24B ISL Clubs Shell Out $4M On Player Draft AC Milan's U.S. Tour To Bring In $4.7M Int'l Attention Turns To Russia 2018 Ecclestone Not Buying Back F1 La Liga Transfer Spending At $354M EPL Spent $615M On Transfers So Far Nike Tells Brazil To Forget World Cup F1 Shareholders To Split $1B Payout Lord's Emphasizing Food, Beverage Sales
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/April 29, 2013/Finance
Brazilian Clubs Say Third Party Ownership Ban Would Hurt Financial Stability
Published April 29, 2013
The debate over the subject of third-party ownership in football "has taken a fresh twist with a group of Brazilian clubs claiming that a move to outlaw such practices would negatively impact their financial status," according to SOCCEREX. The 21 clubs, which include reigning Brasileiro champion Fluminense, along with Flamengo, Internacional and Santos, "have sent an open letter to FIFA expressing their concerns." The clubs' move comes after UEFA General Secretary Gianni Infantino last month stated that the controversial practice of third-party ownership has "no place" in football. Infantino said that European football's governing body is against third-party ownership due to four key factors, "including its potential impact on financial fair play regulations." The clubs said in the letter, "The ban -- as proposed by UEFA -- could impact the finances of the Brazilian and South American clubs negatively, as well as the flow of the international transfers of players between South America and Europe" (SOCCEREX, 4/26).