Economy minister Paulo Guedes said this Thursday, 18, that a group from the United Arab Emirates told Brazilian authorities this week that it would be “examining” to buy two soccer clubs in Brazil. Guedes was in the delegation of President Jair Bolsonaro who also visited Qatar and Bahrain.
“At the end of our visit, we received a hint, an insinuation, that another US$ 10 billion in investments is coming because we are modernizing our park. They are going to invest in roads, oil fields and even football clubs,” said Guedes, in a speech at the 29-year event of the Ministry’s Economic Policy Secretariat (SPE).
The minister mistakenly cited Manchester United, an English club that does not belong to the Arabs, but to the Glazer family of Americans. Guedes probably meant to refer to the recent purchase of Newcastle by Prince Mohammed bin Salman of Saudi Arabia. After the acquisition of the English team, rumors circulated that the Saudi fund would be interested in buying the French Olympique de Marseille, the Italian Inter Milan (which is currently in the hands of a Chinese group) and even a Brazilian team.
“They bought Manchester United, took Cristiano Ronaldo, and I thought: ‘Come and become a member of Flamengo’. And then there was another one on the Vasco side who said: ‘No, come to Vasco’. I said that (if it goes to Vasco) it will lose money. And there was another person from Palmeira who said to buy Palmeiras. They’ve announced that they’re going to buy two teams, they’re looking into it. So they come. This was yesterday and the day before yesterday on the trip,” added Guedes.
An important step was taken this year so that Brazilian soccer teams can be acquired by Brazilian or foreign economic groups, with the approval by the National Congress of the law that creates the figure of the Anonymous Society of Football (SAF). The original club shall maintain special veto actions on team symbol changes, real estate sales and other decisions.
“I was three or four days ago, in the UAE, looking at petrodollars. They built immense wealth in the desert by recycling petrodollars. Every time there is an oil shock these petrodollars are recycled. It is immense wealth on top of a pile of sand. They created cities, but money is left over. Instead of recycling as in the 70s and 80s in the form of loans, they are recycling as investments”, added Guedes.
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