Flamengo break revenue records and target further growth with new league

April 4 – Brazilian club Flamengo keeps breaking records. In 2022, the Rio outfit’s revenues broke the 1 billion reais revenue mark for the first time.

At €192 million, the record revenue sees Flamengo break into the top 30 ranking of major clubs around the world in the Deloitte Football Money League. Flamengo sits in 26th position in the ranking, leaving Crystal Palace, Ajax Amsterdam, Sevilla, and Villareal behind.

“It reinforces the club’s desire to be a protagonist on the world stage and demonstrates that we still have a long way to go and that Brazilian football as a whole can deliver a better quality product to its fans that generates greater value for its entire market,” Flamengo financial director Fernando Góes told Brazilian broadcaster Globo.

The €192 million includes matchday revenue as well as commercial and broadcast income, but excludes the sale of players. Just over half of the revenue came from matchday revenue and commercial income. Flamengo’s victories in both the Copa do Brasil and Copa Libertadores helped to generate the mammoth revenue.

The club however wants to expand broadcast revenue further through the creation of the Liga, a Brazilian league independent from the Confederation of Brazilian football.

“Looking at the international scenario and what has happened to football leagues and other popular sports, the next negotiation window for broadcasting rights for the Brazilian Championship will be a great opportunity to create value for clubs,” explained Goes.

“The State Government’s decision regarding the Maracanã concession has also been closely monitored by the opportunity for new business with a long-term concession.”

For the eighth time in ten years, Flamengo registered a positive balance sheet with a profit of €24.7 million (136 million reias), increasing the club’s equity to €59.4 million (335 million reias).  Debts fell from €50.8 million (279 million reias) to €38.6 million (212 million reias).

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