September 8 – Brazilian club Flamengo have said that they will not leave the Libra bloc after a dispute over the distribution of TV rights money.
Libra is a group of clubs that sells broadcast rights collectively but the union became fractured after Flamengo was criticised by other members after the club obtained an injunction from a Rio court to block a part of the group’s proceeds from the sale. The total amount blocked by the injunction is R$77 million ($14.4m).
Palmeiras president Leila Pereira compared Flamengo’s current management to ‘flat-earthers’.
“Zero chance (of requesting Libra’s disaffiliation),” said Flamengo president Luiz Eduardo Baptista. “We’ll live with this contract until December 31, 2029, and they’ll live with Flamengo until that date as well.”
The Flamengo chairman responded to Pereira’s comments questioning the loan made by Pereira’s Crefisa bank to Vasco Da Gama. The company lent R$80 million to the Rio club which guaranteed 10% of the club’s shares as a collateral. Crefisa, Brazilian media report, will retain those shares if the loan terms are not met.
Flamengo had questioned the rules of the TV distribution money and went to court. Libra, in turn, accused Flamengo of “spreading misinformation”, stated that the club’s board of directors is not seeking dialogue, and asserted that the organisation’s bylaws are clear on revenue distribution criteria.
Clubs making up the Libra group are: Palmeiras, Bragantino, São Paulo, Santos, Atlético-MG, Bahia, Grêmio, Vitória, Remo, Paysandu, Volta Redonda, ABC, Guarani, Sampaio Corrêa, Brusque and Flamengo itself.
Contact the writer of this story at [email protected]