Sociedade Anonima Do Futebol
In short
A Sociedade Anônima do Futebol (SAF) is a specific type of public limited company in Brazil designed for football clubs. It was created by Law 14193/21 to modernise how clubs are managed and funded.
In plain words
It allows football clubs to change from non-profit associations into professional businesses. This lets them sell shares to investors to raise money and improve their finances.
A simple example
A traditional club might sell a majority of its shares to a private investment group. This group then provides the cash needed to buy better players and upgrade the stadium.
Why it matters
This model helps clubs avoid bankruptcy and manage debt more effectively. It brings professional business rules to the sport, making clubs more stable and attractive to global investors.
Easy to mix up
Do not confuse it with a standard 'Sociedade Anônima' (S.A.), as the SAF has specific legal rules tailored only to football.