The CBF (Brazilian Football Confederation) unanimously approved this week its accounts for the year 2025, with a deficit of R$182.5 million, reversing the surplus of R$106.6 million from the previous year.
According to the entity, the deficit is “a reflection of large investments made to settle liabilities left by previous administrations.”
Among the investments, the CBF cited as the main one for the period an indemnity of around R$80 million to the Ceará club Icasa, approved in December, to put an end to a process that began in mid-2013.
That year, Icasa finished Series B of the Brazilian Championship in fifth place in the league table, one position behind the G4 – the first four moved up to Series A.
The club filed a lawsuit with the Sports Court alleging that Figueirense, fourth placed, with one point more, had selected midfielder Luan Niezdzielski irregularly during a duel against América-MG. In the action, Icasa asked that the Santa Catarina team lose the points for their 4-2 victory at the Independência stadium.
The CBF only recognized the error later, maintaining the results on the field, but appealed the court’s decision in favor of Icasa, which extended the case for more than a decade.
“The balance sheet seemed in order to me. It’s scary to see a deficit, but the explanations make sense, considering an entity that is resolving issues from the past, such as the debt with Icasa”, said César Grafietti, economist and partner at the consultancy Convocados.
The CBF also highlighted that the sponsorship agreement with the sports equipment supplier Nike, which provided for anticipated revenue for the 2024 financial year, also contributed to last year’s negative financial result.
“We faced problems and made a commitment to reorganize finances, settle labor and club debts. This investment will bring us results”, declared Samir Xaud, president of the CBF.
Still according to the balance sheet presented, the entity’s net revenue recorded a drop of 9% in 2025, to R$1.1 billion.
“Regarding revenue, the analysis basically has to be done based on sponsorship and broadcasting and commercial rights, which represent 90%, on average,” said Fernando Trevisan, general director of Trevisan Escola de Negócios and specialist in sports management and marketing.
CBF revenues from sponsorship fell again — a movement that has been occurring since 2021 —, with a decline of 3%, to approximately R$438 million, while revenues from broadcasts and commercials fell by 12%, to approximately R$638 million.
“There is a perception that perhaps the CBF, after years of poor management and cases of corruption, and the performance of the Brazilian team itself, has reduced the interest of brands in associating with it,” said Trevisan.
CBF’s investments in Brazilian teams totaled around R$420 million, which corresponds to a 22% growth compared to the previous year, “a reflection of CBF’s growing commitment to sporting excellence, the recovery of the prestige of ‘Amarelinha’ and the strengthening of the Brazil brand on the world stage”, stated Xaud.
However, while investment in the men’s team grew by almost 40%, to R$281 million, in the case of the women’s team, there was a drop of 22%, to R$94 million.
“The difference in spending on the men’s team is still striking, almost three times greater,” observed Trevisan.
Transfers to state federations, in turn, increased by 32% in the period, totaling R$80 million, “reflecting the growing support for the development of football in the country’s 27 federations – covering grassroots competitions, the training of new athletes, the solidification of women’s football, the guarantee of a calendar for professional men’s football and the development and modernization of infrastructure in the states, with special attention to the qualification of pitches and stadiums”, stated Xaud.
CBF’s total investment in football reached approximately R$1.18 billion in 2025, growth of around 9% compared to the previous year.
“The new management, which took over in 2025, has been leading a consistent process of modernization and internal restructuring of the confederation. The measures already implemented and ongoing in 2026 — including the introduction of financial fair play, the professionalization of arbitration and the optimization of the national calendar — signal a concrete commitment to the advancement and credibility of Brazilian football,” said the entity’s president.
During the meeting held on Monday (27), revenue of R$2.7 billion for the 2026 financial year was also approved.
“The scenario is healthy, with investments of almost R$2 billion, no debt, and the prospect of increasing revenues in the year of the World Cup”, stated Grafietti.
