Flamengo has reported a gross revenue of R$1.374 billion for the third consecutive year, setting a new record for the club and Brazilian football. “This figure not only sets a new benchmark for Flamengo but also for Brazilian football as a whole,” the club stated.
In the same breath, Flamengo announced a dramatic reduction in net operating debt, down 79% from R$227 million to R$48 million. “In the span of a year, we’ve managed to clear R$179 million in debt,” they added, showcasing a significant financial turnaround.
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Despite a slight decrease in recurring revenue from R$1.091 billion in 2022 to R$1.071 billion in 2023, Flamengo ended the year with a R$320 million surplus and an Ebitda of R$485 million.
The sale of athletes played a key role in this financial success, contributing R$303 million to the revenue, significantly higher than the R$140 million from the previous year. “The strategy behind player sales has proven to be incredibly lucrative,” the club commented.
From the onset of Rodolfo Landim’s presidency in 2019, with a debt of R$466 million, Flamengo has drastically improved its financial health, ending 2023 with a cash balance of R$263 million.
The club’s management has effectively navigated through financial challenges, including a peak debt of R$585 million in 2020, demonstrating a robust recovery strategy.
