Overview

• After briefing its council, president Luiz Eduardo Baptista said there is zero chance of leaving Libra before 2029 and signaled a future direct-to-consumer model via Flamengo TV.
• An appellate injunction by judge Lúcia Helena do Passo keeps the September Globo payment frozen with funds deposited in court, as Libra continues efforts to overturn the order.
• The dispute centers on Annex 1 of Libra’s statute, with Flamengo arguing the audience-based split lacks defined platform weights and requires unanimous approval, while Libra says the approved rule uses a 60% open TV, 35% pay-per-view and 5% pay TV basis.
• Flamengo expects the case to move to arbitration at the CBMA and says it is open to proposals from clubs while maintaining the freeze it obtained on the audience-share tranche.
• Cade escalated its probe into potential gun jumping by Libra and LFU, ordering contracts and assembly records from both groups and listing investors such as Life Capital Partners and Sports Media Entertainment, as LFU touts gains including a claim that Corinthians will top Brazilian TV revenues.