Do clube associativo à SAF: uma análise dos efeitos da transição no Botafogo de Futebol e Regatas (desempenho, mercado e gestão)

Abstract

Brazilian football, historically structured under the associative model, began to face limitations related to the professionalization of management, indebtedness, and loss of sporting competitiveness. In this context, Law No. 14,193/2021 established the Sociedade Anônima do Futebol (SAF), with the objective of promoting the administrative and financial reorganization of football clubs in Brazil. The present study aimed to compare the sporting results and technical-financial dimensions of Botafogo de Futebol e Regatas before and after its conversion to SAF, as well as to analyze the effects of the adoption of artificial turf at Nilton Santos Stadium. This is an exploratory, comparative, and retrospective investigation based on data from 304 Brazilian Championship Series A matches, distributed equally between the pre-SAF (2017–2020, n = 152) and SAF (2022–2025, n = 152) periods. The variables analyzed included sports performance, roster metrics, and valuation, obtained from specialized public databases. The results indicated a significant improvement in points scored (a relative increase of 48.7%), increased offensive and defensive consistency, greater stability in roster management, and significant equity appreciation in the post-SAF period (~200%). In addition, the club's performance improved in home games, mainly with the advent of artificial turf in its stadium. It is concluded that the adoption of the SAF model was associated with short-term positive effects on Botafogo's sports and economic performance, although further research is needed to assess the sustainability of these results in the long term.