Is Paris 2024 the last breath of Brazil’s sports investment bump?

Twenty-four years ago, Brazil’s athletes returned from the Sydney Olympics branded as underachievers, without a single gold medal — the first time that had happened since the 1976 Games.

“Team Brazil saw Sydney 2000 as an opportunity to become a global Olympic power. It ended up not even being a South American power,” said one newspaper.

In response, Brazil changed its investment policies, and the results followed. Between Beijing 2008 and Tokyo 2020, Team Brazil matched or surpassed its previous Olympic performances in both gold medals and total medal counts.

Government funding for athletes rose sharply in preparation for the Rio 2016 Games, with the Brazilian Olympic Committee (COB) aiming for a historic performance in front of their home fans. The strategy succeeded, but Brazil’s athletes continued to excel in subsequent Games. At Tokyo 2020, Brazil won a record 21 medals, including seven golds, matching its previous best from London 2012.

A key factor in this improved performance was the federal Bolsa Atleta (Athlete Scholarship) program, in place since 2005 and considered one of the largest sports support programs in the world. 

More than 8,700 athletes currently benefit, receiving monthly payments ranging from BRL 410 (about USD 70) for youth athletes to BRL 16,600 for those ranked high in the world.

As reporter Isabela Cruz explained, 98 percent of the 276 athletes on Team Brazil for the Paris 2024 Olympics have received support from Bolsa Atleta at some point in their careers — and 87 percent still do, according to the Sports Ministry.

Gymnast Rebeca Andrade and judoka Beatriz Souza — who won Brazil’s first two gold medals in Paris — are among those who have benefited from the program. 

However, Brazil is unlikely to continue this recent trend of improving Olympics performances in Paris. Pre-Games projections had the country winning four gold medals by this point in the events, but surfer Gabriel Medina and skateboarder Rayssa Leal — both national favorites — had to settle for bronze in their events.

While part of the Brazilian fanbase believes that is the byproduct of biased refereeing, a study by data intelligence firm PontoMAP points to another direction. Government funding for athletes has decreased in the two Olympic cycles following Rio.

Marília Stábile, director of PontoMAP, emphasized that increased investment, whether from the federal government or private sector sponsorships, leads to more medals for Brazil. 

“Our research can incentivize more aid [for athletes] and more medals. It’s a win-win situation,” she said.

Approximately 15 percent of the BRL 43.9 billion (USD 7.77 billion) invested in Brazilian Olympians over the past 20 years came from brand investments through federal incentive programs. Brand investment has especially increased since 2021, driven by growing public engagement with the Olympics in Brazil. 

The question remains, however, as to how public and private funding for Olympic athletes will look after Paris 2024. Public backing for Brazil’s sportsmen and women is high, but will that be enough to sustain increased investment?