Within this context, in 2019, there was an interesting case involving a club of the State of Santa Catarina, Figueirense Futebol Clube (Figueirense). This case had developments in the areas of competition and sports justice and further, for the Public Prosecutors for Labor Matters.
In the context of financial difficulties, Figueirense signed, in 2017, a contract with Elephant, a venture capital firm. Under the contract, Elephant would invest in and manage the club’s activities for a period of 20 years, with the possibility of renewal for another 15 years.
Although the club’s immediate debts were initially resolved, as early as 2018, information leaked regarding delayed salary payments. Since 2018, the club’s financial problems have grown and according to the press: the delay in payment, for several months of salaries, other employer duties and amounts related to the use of image rights, led some players to...
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