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...