Cuiabá earned BRL 63 million in 2021; loss was BRL 2.6 million

A report prepared by XP Investimentos and consulting firm Convocados x-rayed the finances of top Brazilian football teams, including Cuiabá.

The document shows that Dourado has experienced a large increase in revenues in recent years, which jumped 188% between 2020, when the team was still in Série B, and 2021, when it played for A, going from R$ 22.1 million to R$ 22.1 million. $63.7 million.

Despite the increase in revenues, the team ended 2021 with a loss of R$ 2.6 million, since expenses also grew in Serie A, reaching R$ 66.3 million last year.

The document also details that the current debt of the Mato Grosso representative in Series A is R$ 12 million.

“Significant increase in revenues as a result of competing in the Serie A. Growth in advertising and sponsorship revenues”, says the report. “Costs to play Serie A have grown considerably, which has made cash generation (EBITDA) negative from both perspectives”.

Revenue from broadcasting rights in Cuiabá jumped from BRL 11 million in 2020 to BRL 39.9 million, an increase of 262% in the period of one year. Advertising and marketing revenues went from R$8.8 million to R$22 million, up 150%.

Also according to the report, revenue from box office and supporter partner reached R$ 6.2 million. The study does not provide information on these items in previous years.

“The club that had no debts started to have them, a reflection of the negative cash generation and the increase in investments. Even so, it is not very significant”, concludes the report.

The report also informs that the item “what went right” included sports performance and increased revenue. And in “what didn’t work”, he points out high costs and negative revenue generation.

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