EITA! FLAMENGO RECEIVES LAND IN EXCHANGE FOR SPONSOR’S MILLIONAIRE DEBT

The legal dispute between Flamengo and Viton 44, the club's former sponsor, involving a long-standing debt, appears to be coming to an end with a creative solution in the form of a real estate transaction involving land. In 2015, Viton 44, known for its energy drinks 'Guaravita' and 'Guaraviton', signed a R$20 million contract to sponsor Flamengo.

The agreement provided for the brands to be displayed on the back and club uniform sleeve. However, after the contract was not renewed in 2016, the company ended up accumulating a debt of R$4 million with the Rio club, which, with corrections, now totals approximately R$7.2 million.

In the attempt To settle the debt, Flamengo and Neville Proa, owner of Viton 44, reached an agreement at the end of last year. The club received as payment a land measuring 10,688.86 m² located in Mangaratiba, in the luxurious Portobello Condominium, where striker Neymar also owns a property.

The land valued at R$ 12,124,629.70 came into auction this Tuesday, with the first bid marked at R$ 13,436,090.00 followed by a second round for R$ 12,214,629.70. Despite the high estimated value, no buyers emerged, passing the property directly into the hands of Flamengo, which now decides what to do with the land.

The agreement not only pays off an old debt, but also opens new ones possibilities for Flamengo in using this new asset. Developments can be expected in both the financial and institutional aspects for the club, which may explore the land in different ways, from sale to the development of infrastructure for the benefit of the club and its fans.

This outcome highlights the importance of innovative solutions in debt management and strengthens Flamengo's position not only in the fields, but also in the complex fiscal and business landscape.