Up to 48 million Brazilians will invest in the club’s shares if it is listed on the stock exchange

The data is taken from a CBF Academy fan profile survey, in partnership with AtlasIntel, which will be presented on Wednesday.




Photo: Reproduction – Caption: Brazilians want to invest in football clubs / Jogada10

National passion could turn into the largest financial inclusion movement in the country’s history. This is what the research “Demographic Profile of Brazilian Football Fans” indicates. The study, launched by the Brazilian Football Confederation Academy in partnership with AtlasIntel, in-depth identified the behaviour, consumption and economic relationship of the Brazilian population with football.

According to the survey, 23.5% of fans say that they would invest in the club’s shares if they were floated on the capital market. This number is equivalent to about 48 million Brazilians.

“This will be a new attraction for the clubs to take advantage of,” said Marcelo Rotenberg, director of public policy at AtlasIntel. “A significant increase in the number of people in the stock market and a way to transfer part of the expenses that Brazilians paid in betting to direct investments in the clubs.”

Today, the country has about 5 million individual investors. Clubs entering Category B3 could multiply this universe by up to 10, connecting football to new frontiers of governance, transparency and popular participation. Of the 48 million who want to invest, about 3.8 million (8.2%) Brazilians will deposit an amount greater than R$5,000.

Where will the investments go?

The graph reveals that fans’ greatest desire to invest is concentrated in a group of six clubs (G6) that easily top the financial interest. Flamengo comes in first, with 43.3% of participants announcing that they will buy its shares, followed by Palmeiras (37%) and Bragantino (35.7%). These last three make up the most attractive trio among potential investors.

It is followed by São Paulo (32.8%), Fluminense (32.7%), and Botafogo (30.5%). The trio combines the six-club group with the greatest fundraising potential on the stock market. The results showed that investment intention not only follows audience size, but also management perception, sports stability and corporate image.

Supporting the SAFs model in Brazilian football

Research shows that Brazilian fans are divided on converting clubs into association football associations (SAFs). According to the data, 36.4% of fans support the change, while 27.1% oppose it. A larger group, 36.5%, declared that they did not know whether they supported the model or not. This figure indicates that a large portion of the population still does not fully understand what the Sudanese Football Association stands for or what its influences are on the management and performance of clubs. The balance between support, rejection, and uncertainty indicates that public debate about the SAF continues to strengthen in the country.

These results indicate that despite the increasing visibility of Sudanese sports federations in the media and in the football industry, the topic still requires more communication, education and clarity from clubs, managers and experts.

The survey was conducted by AtlasIntel in partnership with the CBF Academy from March 1-14, 2024. In total, 4,445 people answered the questions. The margin of error is ±1 point with a 95% confidence level.

More poll numbers

The report also found that 69.5% spend nothing monthly on football, despite high engagement with games and content.

Digital engagement has surpassed physical attendance, with 38.6% always following the club on social media, while almost 63.8% never go to the stadium.

Brazilian Federation Summit

Next Wednesday, the CBF will finally hold the CBF Academy Summit in São Paulo, a strategic meeting that will bring together executives, managers and football experts to discuss central topics such as innovation in sports management. In this context, research information becomes essential for a logical and data-based discussion.

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