Business

Brazilian football eyes up Gulf money as corporate ownership becomes possible

For the longest time, Brazilian football clubs have been private members' clubs with elected presidents. But a new law will allow them to become companies — and woo big bucks from the Middle East

football arab money
Palmeiras and Flamengo, Brazil’s two richest clubs, will square off in the Copa Libertadores final. Photo: Cesar Greco/SEP

On Saturday afternoon, two of Brazil’s most successful football clubs will face off in the showcase final of the Copa Libertadores — South America’s premier club competition. São Paulo-based Palmeiras, the reigning champions, will take on Rio de Janeiro’s high-flying Flamengo, the most supported club in the entire country. The match, to be held in the legendary Estadio Centenario in Montevideo, will be broadcast live to countries around the world.

The Copa Libertadores has a special place in the hearts of football fans around the world, but the final is set to have a few new spectators this year:...

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