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Leagues and Governing Bodies

Medida Provisória Requires Clubs To Have Single Bank Account, Clubs Disagree

The lobbying in Brasília to "alter the final text" of the Medida Provisória, signed by Brazilian President Dilma Rousseff that renegotiates the debt of Brasileiro clubs, "has begun," according to Mattoso & Alves of ESPN. Specifically, one of the items "does not satisfy the [club] leaders: the requirement that their teams begin depending on only one bank account," leaving lenders more "guarded" in case of debt recovery. Brasileiro side Coritiba President Rogério Bacellar said, "I don't see how the following makes sense at all: you leave a large bottleneck for the clubs to figure it out. We have an agreement with Caixa bank, for example, and we want to keep that. But, if this goes forward, we will face a scenario in which you will follow money clear [in the account] and then, in minutes, become blocked. It's important to be careful. ... At the end of the day, you won't have any money." To Bacellar's point, Brasileiro side Santos President Modesto Roma added, "It's a problem for different aspects and we need to reflect on this as a result. It's one of the issues we have with the MP. Some things need to be corrected. That's how democracy works" (ESPN, 3/29). 

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