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The Comitê Olímpico do Brasil (COB) has a strategic plan to decrease its dependence on lottery funds, which currently represent 75% of its total revenues. In 2025, the committee registered R$594 million in revenues, the highest in the last five years, but the current financial model is considered a long-term risk by the committee’s leadership.
Marco Antônio La Porta, who has been the COB president for more than a year, is working to diversify the committee’s revenues and increase private investments. His aim is to develop a more balanced financial model that can resist changes in the regulatory, political, and economic environments.
The need for this change came from the committee’s past experience with disturbances in lottery revenues. In 2019, lottery revenues to the committee were temporarily interrupted due to a tax debt discovered by Caixa Econômica Federal related to the Confederação Brasileira de Vela. The problem was only solved after the federal government intervened. This experience showed how vulnerable the committee is to changes outside its control.
Historical Dependence Raises Concerns
The dependence on lottery revenues reached a critical point in recent years. In 2021, lottery revenues accounted for 91.9% of revenues in one period and 91.6% in another. In 2019, about 90% of the committee’s budget was based on a single source of revenue.
La Porta has also highlighted the need to prepare for possible changes in regulations that may impact these transfers, especially in the context of overall fiscal challenges in Brazil. “We always make a threat and risk analysis [for management]. The threats are, for example, the government, facing a deficit, deciding to revoke the laws that allocate resources to sport. Therefore, we must be prepared”, he said.
Since taking office after defeating Paulo Wanderley, his predecessor, La Porta has been working to rebuild commercial ties and reestablish connections with sponsors who had distanced themselves after the Rio 2016 Summer Olympics. “We need to create a business model that is attractive to companies and that brings mutual benefits”, the president recently said.
Financial Balance and Institutional Advocacy
The current administration took office with a deficit of R$78 million, caused by an increase in the percentage of lottery transfers allocated to sports confederations. The amount allocated increased from about 45% to 60% of lottery revenues. Nevertheless, the COB has approved a 2026 budget with a forecast of a R$8 million surplus, while continuing to allocate 60% to confederations.
In addition to financial rebalancing, the committee has increased its presence in Brasília to promote legislative actions that are advantageous to Olympic sports in Brazil. Among the main concerns in Congress are issues related to the regulation of sports betting and tax exemptions for the importation of sports equipment.
Import taxes on specialized equipment, such as sailing boats, can increase the price of the original equipment by between R$ 50,000 and R$ 60,000, which is a substantial obstacle for athletes and sports federations. The COB has also strengthened its institutional representation through the newly created National Council of Sports Committees.
La Porta mentioned the accomplishments during his first year of service, including the advancement in commercial agreements and the signing of a contract with Adidas. He also mentioned the approval of Brazil’s Sports Incentive Law as a significant achievement.
“We are working to build solid partnerships with the private sector that can complement lottery and betting resources, ensuring greater financial stability for the development of Brazilian Olympic sport”, La Porta said. As for his vision, he was very clear: “This is our mission.”
Source: BNL Data
