Liga Forte Futbol (LFF), one of the two groups looking to take top-tier Brazilian soccer in a new commercial direction, has finalized a 50-year deal with US investment firm Serengeti Asset Management and domestic venture capital group Life Capital Partners.

The agreement has been confirmed following a general meeting amongst the 26 LFF clubs on Friday (June 30) and will result in an initial investment into those teams of just over $480 million.

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In return, 20% of the commercial revenue generated by these sides over the half-century from 2025 onwards will go to Serengeti and Life Capital. The deal was first announced in February.

In the next few days, financial services firm XP Investimentos will make an advance payment of up to R500 million ($105 million).

The agreement also finalizes the commitment of the LFF teams to collectively sell their broadcast rights during the Brazilian league season from 2025 onwards.

LFF, Serengeti, and Life Capital will now begin planning how best to exploit these rights.

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The deal has so far been signed by 23 of LFF’s member clubs – Internacional, Náutico, and Atlético Mineiro are the only non-signatories so far.

Top-tier Serie A clubs in LFF include Athletico Paranaense, Fluminense, Fortaleza, and Goiás.

The rival collective body looking to entice Brazilian clubs to join its commercialization project is Liga do Futebol Brasileiro (Libra), which so far has 17 teams as members. That has proposed investment backing from the Mubadala Capital firm.

Brazilian teams currently negotiate media rights deals individually, having started doing so a decade ago. Commercial network Globo is the current dominant broadcaster of domestic soccer in the country.

Clubs in Brazil first made the decision to set up an independent body in 2021, to centralize future broadcast rights agreements.

In April, LFF selected the 1190 Sports marketing agency as a business advisor.

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