Santos, Brazil legend Pele’s former club, have been relegated for the first time in their 111-year history.
A 2-1 home defeat by Fortaleza in their final league match of the season meant they dropped out of Serie A, Brazil’s top flight.
Santos won 12 state titles, six league titles and two Copas Libertadores during their golden era of the 1950s and 60s.
Three-time World Cup-winner Pele died at the age of 82 last year.
Santos, who also produced Brazil’s record scorer Neymar, have suffered financial problems in recent years.