Supporting the sport is essential anywhere in the world, whether directly or indirectly, every country must encourage the sport and give more opportunities to all who dream of one day becoming an athlete. In Brazil, the most profitable forms of support and financing for Olympic sport are lotteries.
For every purchase of a lottery ticket, for example, a small percentage is redirected to the COB (Brazilian Olympic Committee). In this way, the Olympic sport receives great support, indirectly, from all Brazilians who play their games in lotteries.
Época Negócios prepared a piece of news that explains how these resources are allocated to the COB and the impact of this on sport.
Check out the news about the Full Lotteries below
You may not know it, but every time you buy a lottery ticket, you send some money to the Brazilian Olympic Committee. It is from the lotteries that most of the resources that finance the national Olympic sport come from. According to Federal Law No. 13,756/18, about 1.7% of the result of the gross collection of the prognostic contests and the federal lottery goes to the COB. These resources go directly to the committee’s coffers, sent by Caixa Econômica Federal. In 2020, it was R$ 122.251 million. In that year, this amount represented 76.7% of COB resources.
In February, however, lottery transfers were at risk of suspension. This is because the Federal Public Ministry asked the Caixa Econômica Federal to suspend the transfer of funds from the Lottery Law to the COB. According to the MPF, the transfer has been illegal, since the COB does not have a Debt Clearance Certificate from the Federal Revenue.
This is due to a debt of R$ 240 million, from twenty years ago, when the Brazilian Confederation of Motor Sailing (CBVM) was unable to pay that amount, closed and gave life to a new entity, with another CNPJ. And the COB was in the passive pole of the former Confederation. In June, however, a few weeks away from the Olympics, the COB reached an agreement with the Attorney General of the National Treasury (PGFN) to settle the liabilities. The committee adhered to the individual transaction model, in which there are discounts of up to 70% of the amount due and the possibility of paying in 145 months.
The rest of the resources of the COB are divided between sponsorships and transfers from the International Olympic Committee, referring to the broadcast of the games. Among the sponsorships, the total is R$ 35.147 million, 22.05% of the total received. Most of these amounts come from the IOC – the amount related to global sponsorships for the Olympics, which come from companies such as Coca-Cola, Airbnb, Visa, P&G, Briedgestone Visa, P&G, Briedgestone and Dow. In 2020, it was R$21.295 million.
In 2020, Brazilian sponsorship came from companies such as Estácio de Sá, Ajinomoto and Alpargatas. It is worth mentioning that, in 2021, the amount coming from sponsors of the Brazil team should increase – after all, it is the year of the Olympics. For the next Olympic cycle, companies such as XP Inc, Tim and Prevent Sports have already joined as COB sponsors.
“Our entire organization is over four years. This amount of the IOC transfer increases throughout the Olympic cycle. In these four years, it was around R$ 60 million”, explains Rogério Sampaio, COB’s general director. For the 2021 to 2024 cycle, the forecast is R$ 100 million. There are also other sponsors who provide services and offer products to the committee. In the 2017-2020 cycle, there were BRL 26 million in this modality. For the cycle that starts in 2021, the value is already around R$ 56 million.
Finally, come the funds transferred by the IOC to Olympic Solidarity (SOI). These are the values referring to the transmission rights of the games. In 2020, it was R$1,998 million.
