Understand how Flamengo’s contract with Shopee will work; club will raise millions of dollars

On July 31, 2024, Flamengo completed the purchase of the Gasômetro land for R$138.1 million . With over 88,000 square meters and a strategic location in central Rio de Janeiro—next to the Gentileza Terminal and Novo Rio Bus Station—the space was quickly associated with the Flamengo stadium project. However, 12 months later, the situation is uncertain under the club's new management .

The acquisition was completed in the final months of Rodolfo Landim's presidency. But in December, Flamengo 's presidential election brought Luiz Eduardo Baptista, known as BAP, to power, adopting a more cautious stance regarding the venture . According to him, the studies conducted during the previous administration were "preliminary" and required a complete review.

CLUB STILL WAITING FOR STUDIES

In April 2025, the club announced the hiring of three companies to conduct technical analyses and further evaluate the site. Coordination remains under the responsibility of Arena E+V, the same company chosen by Landim. At the time, the former president estimated the total cost of the project at less than R$2 billion, including surrounding improvements. BAP stated in February that the actual cost would be much higher—"R$3 billion or more."

According to the 'GE' portal, two of the three contracted companies have already submitted their reports . Soloteste completed the geotechnical studies in about 30 days. Shortly thereafter, JDS Engenharia de Precisão completed the topographic surveys. AECOM, responsible for the more complex analysis—involving soil contamination and risk assessment—was expected to deliver by October, but the deadline could extend until 2026.

DEADLINE HAS ALREADY EXCEEDED THE INITIALLY PROGRAMMED TIME

Bap on Flamengo's stadium: "It will take longer and cost more money than expected"

Another point still unanswered is the financial feasibility study commissioned from the Getúlio Vargas Foundation. In February, Bap stated that FGV had requested 60 days to submit the report. More than 120 days have passed, and the material has still not been released.

According to the 'GE' portal, neither Flamengo 's current president, Landim, nor Arena E+V have commented on the discrepancies in budgets and deadlines. There has also been no public disclosure of any of the studies commissioned to date.

In June, Bap summarized the current situation: " Studies show that it can't be done in the timeframe suggested or at the price quoted . Four companies are evaluating the work previously done, and the conclusion is that, unfortunately, it will take longer and cost more than imagined at the time," the president declared.

Flamengo released, this Thursday (31), its financial statement for the second quarter of 2025. The numbers confirm the excellent moment in the club's finances . The main highlight was the drop in net operating debt (EOL), which went from R$ 327.4 million at the end of 2024 to R$ 128.2 million on June 30 of this year - a reduction of R$ 199.2 million , equivalent to more than 60% .

WHAT IS EOL?

Flamengo uses the EOL as its main indicator of its debt. Simply put, the EOL represents the total outstanding obligations, less available cash and receivables . In other words, it provides a more accurate view of the real financial situation, unlike the simple sum of gross debt.

The document released by the club also highlights that the drop was achieved even in a historically more challenging period for Brazilian clubs: “ It is important to note that the value showed a drop , even in a traditionally more difficult period such as the first half of the year,” highlights the balance sheet.

TRANSFER MARKET DOES NOT YET IMPACT DATA

Despite the significant reduction in debt, the report does not include the impact of the second transfer window , which began in July—thus, after the close of the quarter. This period of the market has a direct impact on the club's cash flow and will be reflected in the next balance sheet.

So far, Flamengo has invested approximately R$294.3 million (or €46 million) in reinforcements , with the signings of Emerson Royal (€9 million), Carrascal (€12 million), and Samuel Lino (€25 million). In return, the club has already secured significant revenue from sales: Gerson and Wesley were sold for €25 million each, while Alcaraz earned €15 million. In total, these transactions total €65 million—the equivalent of R$435.06 million.

The current balance sheet, which only considers data up to June 30, records R$167.9 million in player purchases and R$54.5 million in sales . It's worth noting that a significant portion of the payments are related to contractual bonuses, with Juninho and Jorginho being the only players paid in this format upon joining the squad.

With the new coach in charge of the women's team, Rosana Augusto , the Meninas da Gávea have excelled at Flamengo and earned a spot on the Brazilian Women's National Team. One of the players called up was Kaylane Vieira, from the Mais Querido youth team, who had the opportunity to train with Marta.

Brazil is competing in the Women's Copa América in Ecuador, and coach Arthur Elias has called up a few additional players for the training session at Granja Comary. In addition to Kaylane, Botafogo's Giovana Waksman was also with the team.

KAYLANE TALKS ABOUT OPPORTUNITY IN THE NATIONAL TEAM

So, after returning to Mais Querido, Kaylane couldn't hide her happiness at participating in such an important moment and being able to train alongside Brazil's biggest names in the sport. According to her, the period provided a series of lessons that she will bring back to Flamengo for the rest of the season.

Kaylane talks about the opportunity with the women's team: "It was a unique and extraordinary experience to train with great stars of our football."

She continued: "They welcomed me very well and included me in everything. When I got there, I couldn't believe it, it hadn't sunk in yet. So, it was special. Different from everything else. I'm returning with several lessons that I'll take with me in my career ," said Kaylane.

MEETING WITH MARTA

The young woman also admitted that she had a special feeling when she met Marta, the greatest athlete of all time in women's football and a role model for new athletes: "I was paralyzed when I saw Marta, I really trembled. She is a lovely person, she was extremely kind and treated me in a way that I can't even explain. I will never forget that," she celebrated.

Kaylane highlighted that Marta also left advice about her development on and off the field and even joked that, coming from who she came from, the tips need to be followed: "She also gave me several tips, helped me with some movements and showed me where I can improve on and off the field. Of course I'm going to follow everything, right? It can't be any different ," joked the young Flamengo athlete.