PelĂ©âs death in December saw the world mourn one of footballâs all time greats, but his contributions to the business of football were by no means less great.
(1940-2022), whose death was announced in December, inspired countless fans with his skills on the pitch. But his contribution to the off-the-pitch business of football is by no means less impressive.
Following his retirement from the in 1977, Pelé ran his own company, .
It wasnât uncommon for retired footballers to take on another job when PelĂ© first went into business â players werenât paid the large sums they are today â but PelĂ©âs success was unusual in terms of scope and recognition, both at home and abroad.
Pelé changed the way businesses viewed Brazilian footballers and the sport as a whole. And that changed the football industry beyond recognition.
Brazilian footballers
Brazilian football has come a long way since first reaching the World Cup finals in the 1950s. now play professionally in 81 different countries, including of all time.
The âŹ222 million (ÂŁ192 million) from Barcelona to Paris Saint Germain in 2017
Historically, however, Brazilian footballers were not highly regarded by leagues or international sponsors as football was . It was PelĂ©âs success that changed this perception, leading to increased investment and interest in Brazilian football.
Brazilian football and the economy of a nation
The growth of Brazilian football as a business has been a direct result of the . Brazil has won the FIFA World Cup a record five times and consistently produced world class players like Pelé, Ronaldo and Neymar.
While the likes of (1933-1983) elevated the global âbrandâ of Brazilian football, the money spinning industry that we recognise football as today is more recent â and it started with PelĂ©.
Here, PelĂ©âs success was helped by historical timing â his latter playing years and retirement in 1977 came when international sponsorship had started to come on board with FIFA (). But it was his international recognition that shone the spotlight on the Brazilian team.
More sponsorship for the governing bodies meant more money for the sport. In English football (where club finance data is widely available), research shows that wages with the growth in broadcasting income provided by sponsorship. And with the growth in sponsorship came the need for athlete images for sponsors to use â and PelĂ© was the obvious first choice.
Sponsorship growth
Footballers are because they are and engagement. They are also seen as role models and influencers, able to reach a vast global audience.
PelĂ©âs international fame and national hero status helped him to use his image after retirement. So influential was that image that Coca-Cola signed him for , when he was 60.
There has also been a rise in , where brands are signed as the official sponsor of a football team.
As a result, investment has been made in the and training facilities and the hosting of major international tournaments such as the 2014 World Cup and 2016 Olympic Games.
The product of âteam Brazilâ
PelĂ©âs global image was also helpful in raising the profiles of his clubs. Santos FC became a household name thanks to its and the New York Cosmos, too, benefited through global recognition in markets that US football had not previously reached, such as India.
The same is true of the Brazilian national team. The 1950s were a buoyant time for the Brazilian economy, which created an . Pelé led the charge, with Brazil being crowned world champions in three of his four FIFA World Cups.
This created a product of âteam Brazilâ at a time when sponsorship was becoming an part of football.
But with growth also came issues. Corruption within both the and have been . PelĂ© himself in his criticism of the state of football administration in Brazil during his time as the countryâs extraordinary minister for sport.
The economics of football meant made use of the culturally important team, a legacy .
Regardless of the issues, PelĂ©âs legacy of Brazilian greatness will march on. As the blurb for his 2007 stated: âeven people who donât know football know PelĂ©.â
is the Director of Postgraduate Courses in the Accounting and Financial Management subject group at șÚÁÏÈëżÚ Business School in the Faculty of Business and Law.
is a lecturer with the in the .
This article is republished from The Conversation under a Creative Commons Licence. .
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