Approximately 48 million Brazilians would invest in football club shares if they were available on the capital market. The “Demographic Profile of Brazilian Football Fans” report, launched by CBF Academy in partnership with AtrlasIntel, shows Flamengo, Palmeiras and Red Bull Bragantino as the clubs in which fans have the most financial interest.
“This would be a new attraction for clubs to capitalize on, a super increase in the number of people on the stock market and a way to also transfer part of the expenses that Brazilians have made in betting for direct investments in clubs”, says the director of public policies at AtlasIntel, Marcelo Rotenberg.
In total, 23.5% of Brazilian fans said they would invest in club shares, of which 3.8 million — or 8.2% of Brazilians — would be willing to invest up to R$5,000.
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Flamengo, the biggest fan base in the country, is the club for which most interviewees reported having the greatest investment willingness, with 43.3% indicating that they would buy shares. Palmeiras, with 37%, and Bragantino, with 35.7%, come next. São Paulo, 32.8%, Fluminense, 32.7% and Botafogo, 30.5%, come next.
These results reveal that investment intention is related not only to the size of the crowd, but also to the perception of management, sporting stability and institutional image.
Among the five clubs that attract the most investment, only Botafogo is a Football Anonymous Society (SAF), while Bragantino is organized under the club-company model.
Survey data even indicates that the SAF model is not a consensus among Brazilian fans: 36.4% of fans are in favor of the clubs’ transformation to this regime, while 27.1% are against it — 36.5% say they do not know whether they support the model or not.
