Most Sports Run out of Sponsors after Rio 2016

03/13/2017 - 12h07

Seven months after the Olympic Games in Rio, more than half of the Brazilian athletic confederations have lost sponsorship, receive no support or foresee a massive loss of investments in the cycle that will end in 2020, in Tokyo.

A survey led by Folha reveals that ten entities lost some type of support after Rio-2016 or throughout the course of the year and five did not hold sponsorships and did not expect to obtain any.

Another seven do not know if they will see important ties to state companies renewed for another few years. Only five of the confederations consulted reported that that they had maintained or increased the number of sponsors.

Investors have primarily retracted projects for two reasons: the economic crisis and the administrative fragility of the confederations.

The "Heavyweights" of the Brazilian Olympic scene, such as track and field, basketball, and watersports are in a state of agony due to the loss of investment.

The CBDA (watersports) estimates a 75% loss when compared to the 2016 budget.

Table tennis, which for the first time ever, has found an athlete among the top 23 in the world in Hugo Calderano, saw its funding drop 45% compared to 2016.

With less revenue, the COB (Brazilian Olympic Committee) decreased and reformulated the Lei Piva transfer to the confederations. Shooting sport, archery, badminton and modern pentathlon are sports that fully depend on this fund.

Amid the departure of sport confederation investment, judo and rugby have remained practically unharmed.

Translated by SUGHEY RAMIREZ

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