February 20, 2024
Flamengo Council agrees to amend 2021 budget;  Revenues will reach 1 billion Brazilian riyals |  flamingo

Flamengo Council agrees to amend 2021 budget; Revenues will reach 1 billion Brazilian riyals | flamingo

Flamengo’s board of directors unanimously approved Monday night a proposal to amend the board’s budget for 2021. It reaches the R$1 billion mark.

Flamengo’s projected surplus for 2021 is approximately R$137 million – with approximately R$87 million from the 2020 Brasileirão award paid out only in 2021. It is expected that Flamengo will be able to reduce debt to the level at the end of 2018, with an increase Larger. Equity and higher recurring income.

Rodolfo Landim, Flamengo President – Photo: Alexandre Lago

Marketing and football exceed expectations

In the two revenue lines, the numbers presented exceeded the target. In marketing, the estimated revenue from sponsorship, advertising and revenue is R$214 million, exceeding R$26 million over budget at the beginning of 2021.

Re-adjustment of Flamengo’s budget for 2021

revenue line Audit (in millions of Brazilian Reals) Original budget (in millions of Brazilian Reals)
Broadcasting Rights / Awards 414 387
Sponsorship / Advertising / Royalties 214 189
Supporting Member / Ticket Office / Stadium 51 173
Player Transfers 270 167
Social / Amateur / Other 32 35
Total 984 953

In player rights sales, the club has reached 270 million reais, compared to 167 million reais initially allocated. This surplus practically covers the R$100 million set by the board at the beginning of the year for the box office, but was not met due to the extension of the pandemic restrictions, which also affected the partner fan. As a result, the club incurred a loss of about 121 million Brazilian riyals.

In a budget review, Flamengo is estimated to have received around R$15 million at the box office with games through December.

Voting in advance will remain on Gerson’s installments

Within the submitted proposal, one item will continue to be voted on at a later time by the Board of Directors. This is the expectation of receiving two installments from the sale of Gerson to Olympique de Marseille. The idea is to raise about 40 million Brazilian reals through an operation with Banco Santander.

New Flamingo Banner – Photo: Disclosure