Bloomberg Línea — In a year marked by allegations of harassment and crisis within its leadership, the Brazilian Soccer Confederation (Confederação Brasileira de Futebol, CBF) recorded record total revenue of 1.01 billion reais ($218.5 million) in 2021, an increase from the 716 million reais it reaped in the previous year, when its earnings were reduced by the pandemic.
The CBF this week released its balance sheet for 2021 and its guidance of 1 billion reais in revenue for this year, while preparing for the FIFA World Cup in Qatar in November, and which could, in the event of a win by Brazil, help fatten the figures.
Of the revenues expected for 2022, 696 million reais ($150.5 million) would be allocated to investments in the sport.
Last Year’s Results
The CBF’s profits rose in 2021, the year in which the presidency of the confederation underwent changes after allegations of moral and sexual harassment in June against then president Rogério Caboclo.
Profits for the year were 68.9 million reais ($14.9 million), an increase of around 20 million reais compared to the previous year. Caboclo was suspended and then permanently removed from the position, and which since August has been occupied by Ednaldo Rodrigues.
“For the first time, the CBF surpassed 1 billion reais in total revenue and, therefore, increased the level of direct investment in soccer development to almost 700 million reais ($151.4 million),” according to Rodrigues, who was quoted by the CBF as saying.
“In these two years in which soccer activities were greatly impacted by the pandemic, this record contribution to the entire soccer infrastructure was fundamental for the wheels to keep turning,” he said.
Most of CBF’s earnings come from sponsorship, which are usually contracts signed in U.S. dollars (USDBRL), and which helped boost last year’s earnings, since the real’s exchange rate against the dollar registered an increase of more than 7% in 2021.
Sponsorship netted 576 million reais ($124.5 million) in 2021, a 58% increase over the previous year.
Of the 2021 revenues, 255 million reais ($55.1 million) were channeled into financing the men’s and women’s national teams.