Caixa Econômica Federal is considering the possibility of sponsoring the lower divisions of the Brazilian Football Championship.
This measure aims to resume support for sport, a tradition of the state bank. The strategy currently under analysis represents a change in relation to the approach adopted until 2019, when Caixa sponsored football clubs and printed their shirts.
The bank believes that the scenario has changed with the rise of bookmakers, which now occupy this space and have increased market values.
Therefore, the financial institution is considering sponsoring Series B, C and D of the Brasileirão, all organized by the CBF (Brazilian Football Confederation).
According to information obtained through the Access to Information Law, in February 2019, Caixa had already invested a significant R$763.5 million in football since 2012, with the clubs being the biggest beneficiaries, receiving a total of R$665 million from the state-owned company during this period.
Until 2019, the bank had active contracts with two clubs, including Sport and Botafogo.
Expansion to other modalities
In addition to football, Caixa and Loterias Caixa announced, on August 24, a total of R$68.3 million in sponsorships for various sports.
Furthermore, the investment included the renewal of contracts with the Brazilian Paralympic Committee and the Brazilian Athletics Confederation.
Caixa Econômica Federal also directed resources towards an agreement with the National Basketball League to sponsor Novo Basquete Brasil, the main adult men’s basketball championship.
Thus, Caixa continues its financial support for the Brazilian Gymnastics Confederation and the Women’s Basketball League.
Caixa Econômica Federal plans to transform lotteries into a subsidiary company
However, a potential change in the management of Caixa Econômica Federal lotteries is generating controversy.
The employee representative on the institution’s Administrative Council (CA), Antônio Messias Rios Bastos, raised concerns about a possible maneuver by the board to transfer the management of lotteries from the institution’s vice-presidency to subsidiary companies.
However, the bank’s management claims that this measure is necessary to maintain competitiveness in the competitive market, in addition to enabling operations in the sports betting segment, since the legislation requires a specific CNAE for such activity.
