The Brazilian Olympic Committee (COB) will distribute in 2021 around $28m in resources from Law 13,756, also known as Lottery Law. This figure represents a 15% increase when compared to the transferred funds in 2020 and the highest amount since the creation of the law back in 2001.
As reported by BNL Data, football is one of the Olympic sports that won’t receive resources from the lottery fund.
Paulo Wanderley, President of the COB, said: “The decentralization of resources has been key to our management when leading this committee. The transferred money has increased year after year, which shows that the confederations have done a great job.”
He added: “The right application of this resource guarantees better results for the entities and, therefore, increases the possibilities of receiving more money in the coming years.”
Law 13,756 establishes that 1.7% of federal lotteries’ revenues are redirected to the COB, which then invests it in Olympic sports. The committee also monitors the use of those resources, the type and the results of those investments.
Also, Wanderley explained that the COB was forced to make some adjustments due to the pandemic, in order to include some sports that already received resources from the lottery in the merit transfers list.
Wanderley said: “It was necessary to make certain adjustments because it was an atypical year, but we maintained a [line or work] and above all, transparency. We continue to recognise the work of the confederations, which are showing great results in the sports and administrative fields. We hope we can get more effective results.”