When the World Cup comes to Brazil in 2014, it marks football’s return to its spiritual home, the country of the greatest player (Pelé), the most unforgettable teams (Brazil 1970 and 1982), and the most mythical stadium (the Maracanã).

But no business is more fraught with pitfalls than the beautiful game. Since football became big business in the 1990s, several companies have invested heavily in Brazil. Almost all have fled, their tails between their legs and a trail of red ink behind them.