Brazil gets first soccer trade law as investor ban makes impact
Investing in the transfer rights of a player with the aim of turning a profit on future trades has been made illegal
Rio de Janeiro
BRAZIL'S soccer authorities have made it illegal to invest in the transfer rights of a player with the aim of turning a profit on future trades, bringing it in line with a global ban that comes into effect in five months.
Investors own a stake in the transfer rights of a majority of Brazilian top division players, leading to concerns that teams could be pressured to move a player to realise gains for speculators.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
HCA beats first-quarter profit estimates on higher patient admissions
US FDA approves Pfizer’s gene therapy for rare bleeding disorder
EU toughens rules on Chinese fashion retailer Shein
Shareholders raise questions over dividend payout, directors’ salaries at Best World AGM ahead of proposed privatisation
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue