In this rapidly-growing field, Almeida Advogados leverages its expertise in dealing with all legal aspects, including professional relationships between athletes and clubs (both inside and outside of Brazil) in administrative and legal proceedings.
Presentation made by the attorneys Iris Bennett, Partner of the US Law Firm Smith Pachter McWhorter PLC, and her associate Paulo Gusmão, together with André de Almeida and Leonardo B. Leite, partners of Almeida Advogados.
According to a recent report prepared by the National Bank of Economic and Social Development, the entertainment and leisure sector faces incredible growth potential over the next few years. Not only does it increase free time and tourism activities, it also drives job creation and (particularly as regards sports) contributes to greater social development and health among the population.
As a way of life for millions of people throughout the world, sports provide employment for numerous doctors, teachers, coaches, representatives, physiologists, nutritionists and support staff (including persons who handle clothing, laundry and sports articles), among others. In addition, interest in sports stimulates construction, increases tourism and promotes development of new products and services.
Thus, sports clearly represent an investment rather than an expense, as evident from several companies on the financial market that purchase professional sports clubs.
In Brazil, the Sports Incentives Law (Law 11438/06) allows for sponsorship and donations for sporting projects and others geared towards disabled persons. These investments are deducted from income tax payable by individuals and legal entities. Based on the decree governing the aforementioned law, individuals and legal entities may deduct up to 6% and 1%, respectively, from total income tax due.
According to information from the Ministry of Sports, authorized investments during fiscal year 2008 totaled R$627.3 million. Project investments are authorized and ready to begin upon receipt of funds pledged and an executed on-lending agreement.
An amendment to the Brazilian Sports Code of Justice (CBJD) is expected by the end of 2009. One reason for that modification is to bring Brazilian legislation into compliance with the FIFA’s Code of Conduct and the UNESCO’s new international anti-doping rules.
Sporting activities are offered by numerous companies, including those specializing in sporting materials and equipment, sponsorships, marketing and products and services, among others.
Given its importance, complexity and variety, the sports field requires qualified and specialized legal counsel.
Almeida Advogados has extensive expertise in working with sporting regulations, and has represented both athletes and clubs in Brazil and abroad on matters ranging from proposed sponsorships and the use of team images and trademarks to administrative and legal claims.