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Brazil introduces plan to renegotiate club debts, force fiscal responsibility

Fans of the Brazilian domestic game have had little to celebrate given the clubs' poor management over the years.

RIO DE JANEIRO -- Brazil's government wants to let football clubs renegotiate $1.2 billion in debts but in the process force them to start spending more wisely.

The measure signed by President Dilma Rousseff on Thursday gives Brazilian clubs up to 20 years to pay what they owe to the federal government. In exchange, they must manage their finances more professionally.

Congress still has to approve the measure.

In order to take advantage of the government's favorable conditions, clubs have to commit...

Al-Ahli's Everton Ribeiro: Man United, AC Milan made offers for me

Brazil international Everton Ribeiro says Manchester United, Monaco and AC Milan all made offers for him before he joined Al-Ahli.

United Arab Emirates club Al-Ahli have announced the signing of Ribeiro, 25, on a four-year contract after reportedly paying nine million euros for 60 percent of his rights.

ESPN FC  By ESPN staff

Lucas Silva gave up cash to join Real Madrid from Cruzeiro

Real Madrid have completed the signing of midfield Lucas Silva from Brazilian champions Cruzeiro.
ESPN FC's Gab Marcotti weighs in on the latest transfer news and rumours in January's window, including Real Madrid's new signing Lucas Silva.

Lucas Silva has told Marca he waived his right to 10 percent of his transfer fee to secure his move from Cruzeiro to Real Madrid.

Madrid finally completed the signing of the Brazilian midfielder last week after long negotiations, with a fee reported to be in the region of 14 million euros.

Lucas Silva, who was also reported to have attracted interest from Arsenal, said the move was a "dream come true" and confirmed he had made the financial sacrifice to secure the switch.

"It was best for all concerned...