A new law allowing soccer clubs in Brazil to seek outside investment is attracting hundreds of millions of dollars to a country renowned as football's biggest source of talent, a change that could see Brazilian teams rival Europe's top tier.
Atletico Mineiro is being advised by investment bank BTG Pactual. The club reached out to City Football as a potential suitor, but the group was not interested in the deal, one of the sources said.and one of four businessmen who have lent the team some 500 million reais in recent years, told Reuters the club prefers an international investor "with experience or ownership of a large European soccer club". He declined to comment on the potential price.
"Depending on the financials, listing may make more sense than a private deal", said BTG head of M&A Bruno Amaral. having chronically underperformed the S&P index. United made headlines last week when billionaire Elon Musk said in jest that he was buying the famed team, sparking takeover speculation.Libra, as the new Brazilian league is known, has 13 clubs including Flamengo, Corinthians, Palmeiras, Sao Paulo and Santos. A second group, comprised of 25 teams, is in public talks to join Libra.
XP analysts, in a June report about the soccer business, forecast that Brazilian clubs could reap 200 million reais from international rights in the first year, still amounting to less than 5% of their total revenues. This could also reverse the recent trend of Brazilian players being sold to European clubs before they reach peak potential, analysts say. The average transfer value in Brazil fell to 12.9 million euros last year from 19.2 million euros in 2018, according to XP.
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