CONMEBOL executive warns Brazil gap could widen as SAF model accelerates

Montserrat Jiménez, CONMEBOL’s legal director and deputy secretary general, has expressed concern about the increasing dominance of Brazilian clubs in South American competitions, pointing to a growing financial disparity that she believes risks isolating the rest of the continent.Jiménez spoke during FIFA’s Football Law Annual Review (FLAR) in Budapest, where discussion centred on multi-club networks and how the Brazilian market’s move towards the Sociedade Anônima do Futebol (SAF) model is accelerating both investment and consolidation.She said she does not welcome the trend of Libertadores finals featuring only Brazilian sides, a pattern she noted has occurred in five of the last eight editions. She also pointed to the broader recent run of Brazilian success, saying Brazilian clubs have won every final since 2019 and that 11 of the last 15 Libertadores champions are from Brazil.Jiménez argued the shift in Brazil’s club structures is likely to deepen that imbalance over the next few years, with capital and expertise concentrating even further at the top end of the market. She relayed a view attributed to Marcos Motta that by 2029 only one club in Série A will not be a SAF, and described the pace at which Brazilian clubs could enter multi-club ownership networks as ‘500 km/h’.While she accepted the SAF model is likely to remain, Jiménez said the underlying economics are pushing clubs towards new funding sources because the costs of the modern football industry cannot be covered by broadcasting rights and traditional sponsorship alone.She also highlighted oversight and compliance risks that come with external funding, warning that source-of-funds scrutiny becomes more difficult as ownership structures and capital flows become more complex, including concerns about illicit money.Jiménez added that multi-club networks funded from outside football could also have unintended consequences for youth development, arguing that academies are rarely attractive on a pure returns basis given the low probability of players reaching senior level and the small number who are ultimately sold.The Libertadores and Sudamericana group-stage draws will be held on March 19 in Asunción. This year’s Libertadores final is scheduled for Montevideo, with the Sudamericana showpiece set for Barranquilla.