New Bill No. 2,978/2023, approved last Wednesday (15/05), to improve the governance of Football Corporations – SAFs

Approved last Wednesday (15/05) by the Senate, Bill No. 2,978/2023 – PL 2,978/2023 aims to reform the governance of Football Corporations (SAFs), with the objective of protecting investors and guaranteeing the rights of clubs, football professionals and trained players, in addition to aligning the SAF with the governance practices of public companies and regulated securities markets.

Bill 2,978/2023, proposed by Senator Rodrigo Pacheco, modifies parts of the legislation that established the Football Anonymous Society (Law 14,193/21), changing the intellectual property rights related to football, allowing the SAF to financially exploit the brand rights granted by the clubs.

Furthermore, the changes aim to eliminate territorial limitations and restrictions on the participation of professional societies that train football players, the participation of foreign companies and allow the expansion of international activities, meaning that leagues will have the same legal treatment as clubs.

Bill 2,978/2023 received a favorable report from Senator Marcos Rogério (PL-RO) and will now go to the Chamber of Deputies, if there is no appeal for analysis in Plenary.