World Cup fever has died down (except in Argentina, of course). But the excitement surrounding soccer is still in the air—even in the financial sector. 

In Brazil, the country of soccer par excellence, two rival investor groups are exploring the possibility of forming a new league with a business model similar to that of Europe, reports the Financial Times. According to the British newspaper, a new model—in which clubs manage the league—and television broadcast rights—rather than the Brazilian Soccer Confederation—could significantly increase the value of the Brazilian soccer business, bringing revenues up to the level of the French League within 10 years, as one of the investors involved told the Financial Times. 

One of the groups is led by Codajas Sports Kapita, whose main shareholder is the founder of a Brazilian consulting firm specializing in investments in sports, media, and entertainment. It is advised by BTG Pactual and is in talks with Mubadala, Abu Dhabi’s sovereign wealth fund. Codajas has an agreement with 16 of the clubs in the Série A and Série B of the Brasileirão, the Brazilian soccer championship.

The rival group, advised by the investment firm XP, has a similar project and is in talks with a group of U.S. investors. It has the support of 26 clubs. Market experts point out that the only way these projects will come to fruition is if they merge or reach a mutual agreement. In the meantime, the battle could be as intense as a soccer final. Will it go to a penalty shootout?