São Paulo FC explores SAF model as Real Madrid tops global club valuations

Brazil's São Paulo Futebol Clube is evaluating a Sociedade Anônima do Futebol (SAF) structure to address its mounting debts and improve governance. A virtual meeting on 27 May 2026 featured Italian entrepreneur Lapo Elkann and investor liaison Diego Fernandes, who pledged a detailed feasibility study due in September. The proposals aim to attract foreign capital, professionalise management and engage supporters in the transition.

Meanwhile, Forbes ranked Real Madrid as the world’s most valuable football club for the fifth consecutive year, with a valuation of US$9.5 billion and revenue of US$1.27 billion for the 2024/25 season. The club’s financial dominance fuels debate over whether the SAF model could signal the end of the traditional association structure in European football, highlighting growing investor interest in club ownership.

Both stories illustrate a broader trend of major football institutions seeking corporate‑style reforms and new revenue streams.