SAF: Figueirense FC launches crowdfunding campaign to raise R$ 5 million to invest in new athletes.

According to the Santa Catarina-based football club, this is the first operation of this type in Brazilian football; investors will be able to become "owners" of a part of the club.

Figueirense Futebol Clube and Bloxs Investimentos have announced a crowdfunding offer to raise R$ 5 million to be invested in the football team. The amount to be raised is the maximum allowed by the Securities and Exchange Commission (CVM) and corresponds to 5% of the club's share capital. According to Figueirense, this is the first operation of this type in Brazilian football.

According to the club, with this initiative, Figueirense fans and other investors can become "owners" of a part of the club. The maximum individual investment limit for non-qualified investors (with financial investments of less than R$ 1 million) is R$ 10,000 or one thousand shares.

The public offering will be conducted through a Collective Investment Contract (CIC), with units starting at R$ 1,000.00. Investors will have the right to convert 3% to 5% into equity participation, upon raising the maximum target amount.

The funds will be used to train new athletes, as well as to cover the costs of the Santa Catarina team's participation in the Brazilian Championship's Serie C in 2022.

The new fundraising structure is possible due to the new Club-Company Law, which allows Brazilian clubs to reach the category of Public Limited Football Company (SAF) – a position that Figueirense has held since December 2021.

“Our partnership is important to continue investing in our club and, at the same time, offer investors an opportunity to invest in one of the most traditional football clubs in Brazil,” says Paulo Sérgio Gallotti Prisco Paraíso, president of the board of directors of Figueirense, in a statement.

Felipe Souto, CEO of Bloxs Investimentos, sees the opportunity as a path to be followed within the sport. “Football isn't just superlative when it comes to passionate fans and amateur players – it's estimated there are over 4 billion around the world. It's also a sport that moves gigantic sums of money. From there, we started thinking about how to bring these opportunities to investors,” he says, also in the statement.

Founded in 2017 by Souto, Bloxs positions itself as a "digital investment banking platform, aiming to simplify middle market access to capital markets with operations for B2C (Bloxs Investimentos) and B2B (Bloxs Capital, Bloxs for Business)."

Source: "Figueirense FC launches crowdfunding to raise R$ 5 million to invest in new athletes". Valor Econômico. Accessed on 03/14/2022. To access the website click here .