In Brazil's territorial formation, there is evidence that shows the constant participation of rentier agrarian oligarchies in politics. The oligarchies came to control the state, once the patrimonialist state was consolidated, the core of whose relations is based on political patronage, through nepotism and private interests. The state is in constant dispute between the social classes. However, the power of the hegemonic classes, such as landowners and industrial capitalists, has dominated control of the state, since, in a land-capital alliance, they have used it to secure benefits. The aim of this study is to investigate the land-capital alliance in the municipality of Três Lagoas/MS, as well as its particularities in the dynamics of earning land rent and profit. In this sense, we considered the presence of the territorialization of cellulosic capital in the territory of Três Lagoas, which did not alter the local power dynamics. Landowners have diversified their businesses, especially in urban areas, in order to maintain and increase the possibility of earning income for the private realization of their class reproduction.