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Brazil's President Warns of Crisis in Football
Brazilian major football clubs are facing a crisis following the ban on sports betting companies, which were considered their biggest sponsors and accounted for 34% of club revenues in 2025, amounting to nearly $200 million. The decision to impose the ban, which President Luiz Inácio Lula da Silva described as a "cancer," comes amid an effort to end the dominance of betting companies' funding in Brazilian football. This funding had helped clubs lead in local competitions and participate strongly in South American tournaments. It is expected that this move will lead to a significant decline in club asset values and harm future contracts and sponsorships, with warnings of financial and legal damages. Meanwhile, the clubs are seeking temporary government support to compensate for potential losses.
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