Os efeitos da declaração de falência da associação futebolística após a constituição da SAF

Abstract

Football, in addition to being the most popular sport on the planet, is a typical element of Brazilian culture, responsible for a whirlwind of feelings for those who live it intensely. Although some may consider it a mere leisure activity – just as in its early days – its economic relevance is increasingly undisputable, which is reinforced by the exorbitant amounts it moves and its significant impact on the GDP of this nation. Along with the unparalleled importance of the activity, demonstrated by the said scenario, the stratospheric indebtedness of the main Brazilian clubs highlights the need to search for a professional management of these associations. In this line, Law 14.193/21 was enacted, which established the figure of the Sociedade Anônima do Futebol (“SAF”) and enabled, among other things, the incorporation of football clubs, allowing the use of crisis overcoming mechanisms, such as court-supervised reorganization and centralized enforcement regime. The present academic work sought, based on a hypothetical deductive approach, through a bibliographical review, to analyze the main innovations brought by the SAF Law, focusing on the possible implications of an eventual conversion to bankruptcy of the football association that filed for reorganization. To do so, a systematic and historical approach was taken to the interpretation of the national legal system, through which it was verified, a priori, a dissociation between a newly formed SAF and the bankruptcy effects of the association that formed it. From this perspective, it sought to reflect on the consequences of this finding, highlighting the need for a better combination of the interests of all parties involved in the process, whether creditors, fans, managers, or investors.