Feb 18 β€’ 02:00 UTC πŸ‡§πŸ‡· Brazil Folha (PT)

COB wants to reduce dependence on lotteries and bets, says president

The president of the Brazilian Olympic Committee (COB) expressed concern over the organization's heavy reliance on funding from lotteries, aiming to diversify revenue sources to safeguard against potential government policy changes.

In 2025, the Brazilian Olympic Committee (COB) reported its highest revenue in five years, amounting to 594 million Brazilian Reais. However, 75% of this income was derived from lottery transfers, a longstanding dependence that has become increasingly worrisome for the current administration. COB president Marco AntΓ΄nio La Porta highlighted the importance of risk analysis, warning that government actions could jeopardize funding for sports, particularly if financial deficits lead to the revocation of laws supporting these financial transfers.

This concern is not unfounded; in 2019, the COB experienced a significant financial crisis when lottery transfers were suspended due to a tax debt linked to the Brazilian Sailing Confederation. This incident underscores the precarious nature of the COB's financial structure, which at the time was heavily reliant on government-supported revenue streams. The resumption of funding only occurred through federal intervention, demonstrating that even legislated funding can be vulnerable to administrative decisions.

As the COB looks to the future, it is evident that broadening its financial base is essential to ensure financial stability and independence. By reducing this historic dependency on lotteries and betting revenues, the organization aims to mitigate risks associated with potential government policy shifts, ensuring the sustainability of Brazilian sports in the long term.

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