January 21 – Flamengo is flying high after a record-setting financial year. Club revenue last season hit R$2.1 billion ($391 billion), with a 32% profit margin. At the same time the club cut its debt by 72%, with further plans to reduce it to less than R$50 million (9.3 million), which will give them some financial breathing room.
Flamengo hasn’t stopped spending money either. They invested more than R$1 billion ($163 million) in players, training facilities, and management.
The club is also changing how they do partnerships. Their new deal with Shopee incentives fan spending with exclusive deals, discounts, and online campaigns, with the club taking a percentage of sales.
The attributes the improved financial results to a new way of thinking: better leadership, checks and balances, plus better media and data systems. The results are clear as they now have 84 million followers on social media, and record match day revenues from games at the iconic Maracanã.
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