Sports

Swimming in debt, Brazilian football clubs want to become corporations

Swimming in debt, Brazilian football clubs want to become corporations
Brazil’s Botafogo fans at Nilton Santos Stadium, Rio

In March, Eurico Miranda passed away at the age of 74 from a brain tumor. He was the epitome of a Brazilian football cartola, or “top hat,” the term used for the administrators of the country’s clubs and synonymous with corruption, financial opacity, and amateurish management practices.

Eurico Miranda’s club was Vasco da Gama, one of the biggest sides in Rio de Janeiro, and for a large part of his life, it really was his club. From 1980 until a year before his death, he was the leading power broker within Vasco, serving as a controlling vice president under Antônio...

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