But simply raising the threshold isn't enough. We need to discuss stricter criteria for joint ventures and asset acquisitions, and revisit the definition of "economic group". The Jusbrasil case highlighted this need.

Updating these thresholds should happen soon and would free up CADE's resources to focus on complex cases, like unilateral conduct in digital markets. CADE saw a 20% increase in merger notifications in 2024! More than 97% of these cases were simple and cleared with no restrictions.

Did you know the R$400mi threshold in Brazil's competition law is a relic from 1994? It was updated to R$750mi/75mi in 2012, but still lags behind inflation. A 2023 study suggests it should be R$1.7bi/170mi! #CADE #antitrust #Brazil

Destaque para o Flamengo. Mesmo com a desvalorização do real, o clube entrou no top 30 mundial com receita de 198.2 milhões de euros! #Flamengo

Fatores do crescimento: (i) + capacidade dos estádios, (ii) + preço dos ingressos, (iii) ofertas premium e (iv) sucesso em competições europeias. Mas atenção: houve queda nas receitas de transmissão. Conclusão: o sportainment é cada vez mais crucial para as finanças dos clubes.

As receitas de dia de jogo tiveram aumento significativo, impulsionando o crescimento dos clubes, junto com as receitas comerciais, principalmente na Premier League. #Matchday

O relatório considera receitas recorrentes: matchday (ingressos, hospitalidade, etc.), comerciais (patrocínios, publicidade, licenciamento, etc.) e transmissão (TV e streaming). Sem contar negociações de atletas.

It also reminds me of the history of the National Football League (NFL) that I discussed with Barbara De Carli Cauhy in an article for the book organized by Amanda Athayde and Victor Fernandes. And the book will soon have an english version!

This case shows the type of issue we may face in Brazil when we move (if we move) from the negotiation block model (Libra/LFU) to an effective league.

NASL alleges that the federation, in collusion with MLS, has prevented/hindered NASL's operation as a second division league and potential competitor to MLS.

Here is the link for the full study: www.sportsvalue.com.br/wp-content/u...

Now the downside. Despite the potential of the Brazilian market, LA FC from MLS is worth 25% more than Flamengo. This reflects the devaluation of our currency and the potential of the US market.

Most valuable teams. Flamengo, Palmeiras, and Corinthians remain the top three. Biggest growth: Botafogo (210%), Criciúma (149%), and Vasco (140%). Great opportunities in rising smaller teams like Paysandu, Portuguesa-SP, Remo, and Paraná Clube.

Growth. Significant increase in the value of the top 30 clubs (BRL 33.2B to 41.3B). Key factor: squad appreciation. Also, brand value rose and Liga Forte União sold 20% of commercial rights to investors, unlike Libra.

Methodology. The study considers financial assets, investments, fixed assets (stadiums and training centers), squad value, and broadcast revenues. The brand is evaluated with different variables, such as fan base, geographical distribution, and engagement.