QUI 12 DE DEZEMBRO DE 2019 - 07:24hs.
Brazil

Caixa spends US$300 million on sports sponsorship

After the financial partnership with football clubs was suspended, the amounts spent by state-owned bank Caixa with this and other sports have become news. According to information from LAI (Access to Information Law), the bank spent the sum of US$300 million for sports. With football, since 2012, when it became a major financial supporter, the bank invested a total of US$208 million.

Caixa Econômica Federal spent US$208 million in football since it began its investments in the modality in 2012. The amount corresponds to 69.5% of the sponsorships destined to clubs and sports projects made by the bankreaching a total of US$300 million.

The clubs were the biggest beneficiaries: 35 received US$181 million from the state company in the period. The information was obtained by Poder360 via LAI (Information Access Law).
The clubs whose contracts include the highest values are, respectively, Flamengo (US$38.5m), Corinthians (US$33m) and Vasco (US$13.7m). Only Sport and Botafogo have contracts in progress in 2019.

In relation to football championships, US$27 million sponsored 11 regional competitions, 2 national ones (Brazilian championship series B and C and Brazilian women's championship) and one international (International Women's Selections Tournament) in the period.

In addition to these investments, the state has approved the budget of US$147m for committees and confederations - the value is beyond US$300m. These are: Brazilian Paralympic Committee US$66.5m); Brazilian Athletics Confederation (US$53m; Brazilian Confederation of Gymnastics (US$19m); Confederation of Brazilian Cycling (US$4.65m) and Brazilian Confederation of Associated Fights (US$ 3.8m).

Sports sponsorships made by Caixa have already been questioned by Economy Minister Paulo Guedes and new bank president Pedro Guimarães. At the ceremony, Guimarães said he will launch a cost control program, "whether in sponsored purchases or programs" and that the action "is a determination of the President of the Republic and of the Minister."

Bank does not explain criteria for choice

Asked about the criteria to define the modalities, clubs and events that sponsor and on how to follow the return of these investments, the state said in a note that would not comment.

Regarding the new guidelines for the sector this year, Caixa said that "sponsorships for 2019 are under analysis." Still, it maintains on its website an image in which he claims to be "the greatest supporter of Brazilian football".

Source: GMB / Poder360