Flamengo’s financial woe continues

Flamengo staff are set to receive their salaries for October by Wednesday night, ahead of the club’s self-imposed Thursday deadline, but there is still little progress regarding September’s unpaid wages. With the club currently strapped for cash, the Rubro-Negro attempted to take a loan of R$3 million (£1 million) to ease the situation, but saw […]
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sambafoot_admin
2012-11-07 13:00:00

Flamengo staff are set to receive their salaries for October by Wednesday night, ahead of the club’s self-imposed Thursday deadline, but there is still little progress regarding September’s unpaid wages.

With the club currently strapped for cash, the Rubro-Negro attempted to take a loan of R$3 million (£1 million) to ease the situation, but saw their request rejected.

In recent times, the club have already taken-out two loans totalling approximately R$15 million (£5 million) with Banco BMG, but have seen financial concerns ease little.

The issue is becoming a delicate subject for president Patricia Amorim, who is seeking re-election later this year and has found herself under heavy attack from opposition candidates for her handling of the club.

The club’s latest attempts to secure much-needed funding will come via the courts, as they challenge a block on a R$20 million payment (£6.5 million) regarding television rights.

The payment, which would temporarily ease the club’s financial worries, has been withheld on account of tax liabilities owed since the time of previous management at the club.

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