Despite a glorious past that includes five World Cup triumphs, Brazil have never struck gold in the Olympics and former striker Ronaldo thinks it is now their time to shine.
The Olympic football tournament will feature some of the world's top names with Brazil, world champions Spain, the old Olympic kings from Uruguay and a rare appearance from host nation Britain, all in with a chance of glory.
Among the leading individuals involved in the men's competition are Brazilians Neymar, Hulk, Thiago Silva and Alexandre Pato, Uruguay's Luis Suarez and Spain's Juan Mata and Jordi Alba, who both scored in their victory over Italy in the final of Euro 2012.
Brazil, naturally, are among the contenders and will attempt to overcome their Olympic nemesis by winning the gold medal for the first time at their 13th attempt since they first competed in 1952.
Former Brazilian striker Ronaldo, a World Cup winner in 2002 and an Olympic bronze medalist in 1996, told Reuters it was Brazil's time to win gold.
"There is no real reason why we fail at the Olympics, which we take very seriously," he said.
"In some way these are already a successful Games for us because Argentina [winners in 2004 and 2008] were eliminated in the qualifiers and cannot defend their title so now would be perfect if we became champions in their place."
Brazil face Egypt, Belarus and New Zealand in their opening group.comments