November 4 – On the back of sporting success Flamengo are enjoying record revenues of €142.8 million for the first nine months of 2019.
Since the introduction of Portuguese coach Jorge Jesus last summer the Rio club have dominated the Brazilian league and reached the final of the Copa Libertadores for the first time in 38 years. On Sunday, Flamengo defeated Sao Paulo giants Corinthians 4-1 thanks to a hat-trick from Bruno Henrique to reinforce their position at the top of the table.
The revenue of €142.8 million in the first nine months of the year has already surpassed the the full year figures of €116.2 million for 2017 and €140.3 million for 2018.
The rise is predominantly through an increase in ticketing income from €8.9 million to €14.6 million and player trading delivering €66.4 million through the transfers of Lucas Paquetá (AC Milan), Fernando Uribe (Santos), Jean Lucas (Lyon), Léo Duarte (Milan), Trauco (Saint-Etienne) and Cuéllar (Al Hilal) had a combined value of €66.4 million.
With a new TV rights structure in place, the club’s TV revenue has dropped from €39.4 million to €36.2 million.
On the expenses side, Flamengo have spent more than last year with a lay out of €119.6 million, largely due to the signing of a number of marquee players for a combined total of €24.5 million. The arrival of veterans Filipe Luis, Rafinha and midfielder Gerson has also boosted the wage bill.
Nonetheless, Flamengo have a healthy balance after the first nine months of the year with €16.8 million in the bank, substantially more than the €6.4 million for the corresponding period in 2018.
Contact the writer of this story, Samindra Kunti, at moc.l1594799163labto1594799163ofdlr1594799163owedi1594799163sni@o1594799163fni1594799163