A legal opinion commissioned by the boards of Cuiabá, Vila Nova and Atlético-GO corroborates the decision of Cade (Administrative Council for Economic Defense) on June 25th, that the Sports Media Entertainment to create obstacles to the departure of member clubs from the . Sports Media is the main investor in the FFU, a league that has 33 members from series A and B. It was prohibited from creating obstacles to exit, subject to a daily fine of R$250,000.
The legal opinion, produced on Friday (June 27, 2026) and to which the Poder360 had access, concludes that Cade’s decision “finds support in competition theory and in decision-making practice itself” from the agency.
Prepared by VMCA Advogados, the opinion identifies 2 central points of risk in the arrangement of . The 1st is the transfer of clubs’ broadcasting rights to Sports Media for 50 years, until 2074, with no real exit mechanism. According to the document, the period is 10 times longer than the 5-year limit used by Cade in non-compete clauses, and well above the 2 years defined in the authority’s agreements with iFood and Gympass..
The 2nd point is the 90% quorum required for decisions by Condomínio Forte União, the legal structure of the FFU, which gives Sports Media – which owns 20% of the business – veto power over the clubs, which hold the other 80%. Sports Media also appoints, without consulting the clubs, the condominium administrator and the team responsible for selling the broadcasting rights: LiveMode, which has a stake in Sports Media itself and controls the CazéTVone of the buyers of these rights.
For lawyers, these rules make Sports Media the gatekeeper (doorman, in English) of access to broadcasting rights for Series A and B of the Brasileirão.
“In relation to the governance clauses present in the CFU Condominium Convention and which guarantee the preponderance of Sports Media over the FFU arrangement and over the clubs: as seen, these clauses create an imbalance in the arrangement and place Sports Media in the position of true gatekeeper, with negative effects on the upstream markets (in which clubs operate) and the downstream market (in which broadcast companies operate)”, says the document.
The opinion recommends that clubs propose to Cade the suppression of the 50-year exclusivity clause and adjustments to the condominium governance rules. If Sports Media does not accept the changes, the document says that an alternative to reducing the clubs’ exposure is to leave the FFU.
FRICTIONS
In the decision, the then general superintendent of Cade, Alexandre Barreto, responded to the representation of CSA (Centro Sportivo Alagoano) against Sports Media. According to the opinion, the possibility of clubs migrating to competing arrangements — such as Libra — preserves the “contestability” of the sector. Therefore, obstacles to clubs leaving the FFU could be classified as “infringement of the economic order”stated Barreto.
The measure, which had a preventive nature within the body, exposed the internal situation of the football league. It motivated the boards of Botafogo, Cruzeiro, Goiás and Corinthians to notify the FFU extrajudicially, asking for changes in the governance model.
O Can had access to copies of an email sent to the Sports Media executive, Bruno Pimenta, and all the presidents of the member clubs. They are not the only ones endorsing the movement.
In the message, Cuiabá director Cristiano Dresch stated that the clubs will call an exclusive assembly, “without the participation of Gabriel or any other Gamboa employee, to define the clubs’ position regarding Cade’s decision”, he states.
In the message, he refers to the administrator of Condomínio Forte União, Gabriel Lima, and businessman Carlos Fernando Vieira Gamboa, owner of Life Capital Partners, controller of Sports Media Entertainment.
In the email, Dresch also cited a condominium meeting, days earlier, in which Sports Media had tried to approve “in secret” the formation of a league without consulting all clubs.
O Can He contacted the president of Cuiabá Esporte Clube, Cristiano Dresch, through the club’s advisors to ask if he would like to comment on the decision, on Sunday night (June 28). A new email was also sent this Monday morning (June 29). There was no response until the publication of this report. The text will be updated if a statement is sent to this digital newspaper.
OTHER SIDE
In a note sent on Friday (June 26), Sports Media said that Cade’s decision has no “relevant practical effects” and is “result of incorrect understanding of the facts“. The FFU said to follow “with attention and caution the developments of this topic, at the same time that it will remain fully committed to complying with its Convention“.
Not Saturday (Jun 27), or Poder360 He contacted the advisor again to ask what measures were adopted by Sports Media after Cade’s decision. Questions were sent on other topics. There was no response.
In a note sent on Sunday (June 28), Sports Media said it was aware of the directors’ movements.
Here is the full statement:
“Condomínio Forte União became aware of communications sent by certain condominium clubs due to a preventive measure issued by the then general superintendent of Cade, in a preparatory procedure, in the last hours of his mandate, which ended last Thursday (June 25).
Although the adoption of a preventive measure in a preparatory procedure is not usual, it is, as the name suggests, a decision of a provisional nature, still subject to assessment and possible review by the CADE Court, as well as, if applicable, by the Judiciary. For this reason, any action based on this order is premature.
The CFU will continue to monitor developments on this issue with attention and caution, at the same time that it will remain fully committed to complying with its Convention, the effects of which increased competition in broadcasts and enabled the largest and most advantageous rights negotiation in the history of Brazilian football.”
