Portuguesa SAF expands youth program as Brazil sees new wave of football club-empresa conversions

Sérgio Guerreiro, manager of the youth categories at Portuguesa de Desportos (Portuguesa SAF), said the club has revived its reputation after a year and a half of restructuring. The team signed a partnership with the municipality of Atibaia to run an educational and social development program, aims to obtain the CBF’s Formador (training club) certification, and recently sold a youth player to Denmark’s Midtjylland, highlighting its renewed market credibility.

Across Brazilian football, a broader wave of clubs is adopting the SAF (sociedade anônima de futebol) model. The shift is no longer driven solely by debt relief but also by upcoming tax reforms that will lower the tax rate for SAFs from about 16% to 5% beginning in 2027. Clubs such as Guarani, Ponte Preta, and Juventus are advancing SAF conversions, with Juventus already completing a R$480 million deal and winning the Paulista Série A2 title. The new model emphasizes financial transparency, spending caps, and independent board members, aligning with the CBF’s Fair Play Financeiro rules.