The Brazilian football club claims that any repeal of the betting law would be a blow to their finances and those of other clubs.
Brazil.- A public hearing is scheduled for next Monday, November 11, at the Supreme Federal Court (STF), requested by the National Confederation of Commerce of Goods, Services and Tourism (CNC) to judge the constitutionality of the Sports Betting Law (Law 14.790/2023). Minister Luiz Fux, who will mediate the hearing, invited various representatives from societal sectors to participate in next week's meeting.
Fluminense, along with two other football clubs, seeks to participate in the hearing. In addition to their presence, the tricolor team requested to act as amicus curiae in the action. According to O Globo, the Rio team intends to defend the constitutionality and maintenance of the Betting Law.
Fluminense plans to use the argument that the repeal of the betting legislation would be a severe blow to the finances of football teams in general, as most of them are sponsored by betting companies.
“The impact of these funds on the development of professional football in the country is undeniable. Currently, 75 percent of the clubs in the Brazilian Championship Serie A have sports betting companies as their main sponsors. It is estimated that, by 2024, the values from contracts with betting will represent almost 15 percent of the total revenues of the clubs from the two main divisions of the national competition,” said Fluminense in the request to the STF.
According to Minister Luiz Fux, the purpose of the hearing is not to discuss legal interpretations, but to address issues related to mental health, neurological impacts, economic effects on trade and the national economy, as well as the social consequences of regulating betting in Brazil.
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To date, 44 institutions have registered to participate in the debate. Among the entities wishing to send representatives are football clubs, the Central Bank, various betting sites, and iGaming company associations.
In addition to Fluminense, Botafogo and Cruzeiro are applying for spots in the session. The clubs have not yet defined the individuals who will represent them.
Among the representatives of the gaming industry will be members of the National Association of Games and Lotteries (ANJL), the Brazilian Institute of Responsible Gaming (IBJR), the State Lottery of Rio de Janeiro (Loterj) and the State Lotteries of Paraná (Lottopar).
In April of this year, Fluminense signed a contract with Superbet for three seasons, making it one of the five largest deals in Brazilian football. According to the site Globo Esporte, the company will pay R$52m (about USD 10m) per year in a three-year contract.
