Accounting in Profut and in Temerary Management of Football Clubs: Overview and Research Opportunities

Football has evolved from a noble sport played for entertainment reasons into an important form of business. Despite this, the scenario of football clubs persists in debt accumulation with incessant increase in costs. With the intention of resolving this situation, the Sports Fiscal Responsibility Law (LRFE), no 13,155/2015, was created. In this circumstance, to contribute to the understanding of accounting in sports management, we aim to present, discuss and explain the role of accounting in the Management Modernization and Fiscal Responsibility Program - (Profut) and in reckless management in professional football sports entities. At the end, we present opportunities for future research in the Brazilian context, offering scope for professional practice in the area of Accounting and Administration, incorporating different points, for example, adoption and compliance with regulatory structures and legal requirements; balance between revenues and costs (including the valuation of player assets); explore financial strategies and performance; the composition of the board of directors and the deliberative council; examine financial health using recognized techniques; and potential growth of the sector.