Flamengo achieves unprecedented milestone with recurring revenue of R$1 billion – Flamengo – Flamengo News and Game

Cash does not include player sales, and the larger amount refers to commercial revenue.

Flamengo’s financial results for 2022 are impressive in a way. That’s because the balance sheet, which will be released on Friday (31), will point to a string of good news. Among them, the fact that Mengão, for the first time, surpassed R$1 billion in billings in recurring revenue.

In this way, Flamengo reached this amount without having to sell players. Indeed, the rubro-negro also succeeded, once again, in reducing its indebtedness, in addition to achieving its eighth surplus in the past ten years. The information was initially disclosed by GE.

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These positive results allowed Flamengo to set a record shareholder value: R$326 million. It is important to note that the revenue of R$1,043,252,000 in 2022 is divided into two important categories: broadcasting (transmission rights) and match day + commercial revenue.

Matchday includes all revenue earned from games, such as: box office and food and beverage sales, as well as cabins and supporting members. Licensed jerseys and products are not included in this package, but are included in commercial revenue, which includes sponsorship, licensing, and royalties from the sale of jerseys and contracts with a sporting goods supplier, as described in GE.

However, Flamengo believes it needs to expand on the issue of broadcasting rights. In this regard, Mengão earned R$494,869,000 in 2022, but it was boosted by the Copa Libertadores achievements, which together amounted to R$201m.

On the other hand, the current Board of Directors of Flamengo managed to reduce the indebtedness – again: from R$ 279 million to R$ 212 million. In 2023, Mengão also plans to settle the last financial debt with the banks that appear on the balance sheet. This way, in addition to the titles won on the field, filmmakers celebrate other’booty‘This one’s in red and black financing.’