Flamengo hits R$ 834 million in revenue, before World Cup titles

In a document that still does not account for the total awards for the Copa do Brasil and Libertadores titles, Flamengo recorded gross revenue of R$ 834.1 million until the end of the third quarter of 2022. projection of once again surpassing the mark of R$ 1 billion in revenues in the year.

The numbers closed until September 30 by the club show a surplus of R$ 129.2 million. This result surpassed Flamengo’s own expectations for this period by around R$ 20 million. The performance on the field explains part of the numbers, as Fla advanced to the most acute phases of the disputed cups, whose decisions took place in October and will be counted in the fourth quarter.

According to the club’s report, Flamengo accumulated over nine months a collection of BRL 143.9 million with matchday revenues. In this regard, box office and fan-partners come into play.

The whole scenario leaves the red-black box quite safely. The club reported that it had BRL 178.3 million in “money in a current account or its equivalent, such as investments and other financial assets easily convertible into cash”. This is the materialized amount of money that Fla has available to cover expenses and eventually make immediate investments. This scenario means that the club does not need to create new debts with banks or any type of financial institution.

As a strategy to remain competitive in the market, Flamengo reserves 48% of its cash in foreign currency. With this, it is able to partially shield itself from the exchange rate variation and the devaluation of the Real against the Dollar and the Euro. This is relevant because there are future payments to be made in foreign currency.

In transfers, Flamengo has to pay BRL 246.2 million, of which BRL 172.9 million refers to the purchase of players in the short term (next 12 months from October 2022), and BRL 73.3 million in installments October 2023 onwards.

At the other end, Flamengo has R$ 103.4 million to receive from transfers, of which R$ 72 million in the short term and R$ 31.4 million in the long term.

In the report, the club says that it “always remains attentive to opportunities that are important both for strengthening its own squad and for some new sale”.

Income sales that helped to increase the balance receivable came from striker Lázaro and midfielder Willian Arão. Fla also raised a solidarity mechanism on account of the transfer of Lucas Paquetá from Lyon to West Ham.

The balance sheet with information related to the fourth quarter should only be published in April 2023. But the club expects to surpass the billion mark once again because it earned R$ 85 million only with the victory in the Libertadores final against Athletico and other Rs. $ 60 million only referring to the decision of the Copa do Brasil, against Corinthians.

At the end of the year, more revenue from the most diverse lines came in, especially the performance part of the Brasileirão TV contract.

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