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Flamengo Stadium: Caixa estimates loss of more than R$1 billion with expropriation

Bank claims impact of more than R$840 million to FII PM due to the value of Cepacs

Photo: Wagner Meier/Lancepress!
Photo: Wagner Meier/Lancepress!

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A judicial battle for Gasologista land, sold at auction by Flamengo for construction from your stadium, is far from over. The Union requested that the process be reversed to the Federal Court, alleging that the expropriation carried out by the city of Rio de Janeiro created a loss of more than R$1 billion to the Severance Indemnity Fund (FGTS), the sole shareholder of the Employment Fund. Porto Maravilha Real Estate Investment (FII PM), managed by Caixa Econômica Federal (CEF).

Caixa estimates a loss of R$1.084 billion with the expropriation. The bank estimates a value of R$240.5 million for the Gasometer land and R$843.3 million for the use of Cepacs (certificates of additional construction potential) that the City Hall had assigned to the land. The information is from the portal 'Mundo Rubro-Negro'


“Masterplan expected the consumption of up to 602 thousand Cepacs in the Gasometer, which at the average unit value of R$ 1,400.83, represents R$ 843, 3 million. Thus, the potential impact of the expropriation is R$1.084 billion, without considering the amount that the FII Porto Maravilha will receive as compensation for the expropriation. In this sense, the expropriation promoted has direct repercussions on the FGTS and in relation to all Brazilian workers linked to the aforementioned fund”, stated the General Attorney's Office of the Union in the petition it filed in the expropriation process, which is taking place in the State Court.

In the calculation, Caixa does not count on the R$ 138.2 million deposited in court by Flamengo for the city hall to pay the expropriation to the Bank. After a response made by CEF, the State Court ordered an inspection to be carried out on the land to assess a fair value for it. The deadline for completion is 15 days. Flamengo approved a bond insurance if you have to pay more than stipulated in the auction notice if the price is changed by the judiciary.


Despite the uncertainty, Flamengo and City Hall must sign this Friday (16) the promise of purchase and sale, which marks the beginning of the 18 months, foreseen in the auction notice, for the presentation of the executive project of the stadium, by the Club. To do this, an assessment will have to be made on the contamination of the land, which for years housed the Gasometer while it was still active, which made the soil in the area harmful to health without decontamination.

City Hall denies loss to Caixa

In leaked audio of Eduardo Paes in conversation with Flamengo partners, including former President Eduardo Bandeira de Mello, the Mayor guarantees that he did not cause any losses to the FII PM and even accused Caixa of fraud for artificially increasing the price of the land and making the sale unfeasible.

“I hope Caixa Econômica doesn't try to lie, because this mayor here isn't stupid or anything. And we have several purchase and sale contracts for the real estate fund at value. Caixa negotiated the land and CEPAC for the private sector, to try to sell it to build buildings. And then, the CEPAC price of the property was very balanced. The square meter of land there was very balanced. Soon, when Flamengo's story begins, Caixa throws the price per square meter to the moon, and lowers the price of CEPAC. They were the ones committing fraud. They were transforming an artificial square meter number there to try to overvalue and make Flamengo's purchase of the land unfeasible”, stated the mayor.

Caixa alleges misuse of purpose in the expropriation and requests that the auction be annulled. The process is now taking place in two actions, one in the Public Finance Court of the State Court and the other in the 2nd Court of the Federal Court. The dispute is expected to reach the Superior Court of Justice (STJ).



Soccer

Boldness or stupidity? Peñarol posts photo on social media provoking Flamengo

Teams face each other next Thursday in the Libertadores quarter-finals

Disclosure/Peñarol
Disclosure/Peñarol

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The Peñarol (URU) team was excited from the beginning of the trip to Rio de Janeiro, where they will face Flamengo, in the quarter-finals of the Libertadores. In addition to cheering the players on the flight towards the 'Marvelous City', the Uruguayans posted a montage of Christ the Redeemer with the club's flag.

As soon as they landed on Rio de Janeiro soil, the Uruguayan club published an image of a of the city's main tourist attractions. In addition to the photo, the team wrote the following message: “Peñarol em Rio”, alluding to Rock In Rio. Afterwards, a video showing the arrival of the athletes at Galeão Airport was also published.




< p>Uruguayan team in the Libertadores

Peñarol reached the quarterfinals of the Libertadores after beating The Strongest (BOL) in the round of 16. In the first game, the Uruguayan team defeated their opponent 4-0. On the way back, the Bolivian team even won by a score of 1-0, however, it was not enough to take away the classification of Diego Aguirre's men.


Before the game against Flamengo, Peñarol played in the Championship Uruguayan. On Saturday (14), Rubro-Negro's opponent beat Rampla (URU), by a score of 4 to 0. Given this situation, they remained undefeated in the national tournament.

And the red- black?

Flamengo is coming off a bitter draw with Vasco on Sunday (15), however, they will have reinforcements for this Thursday's duel (19). Recovered from a thigh injury, De La Cruz is back in the team. In addition to the Uruguayan, Alex Sandro, Alcaraz and Gonzalo Plata were registered in the competition and, as a result, will be included in the clash.


Soccer

Mayor of Rio denies note about Flamengo stadium

Eduardo Paes uses his social network profile to deny the article

Reproduction
Reproduction

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Last Tuesday, the candidate for re-election for mayor of Rio de Janeiro, Eduardo Paes, denied the journalist Ancelmo Gois, from Globo. In a post on Instagram, the mayor informed that the city hall will be responsible for removing the megastructure on the gas meter site, different from what was reported. Furthermore, he guaranteed that Flamengo will have its new stadium, with the best conditions and security.

The news published by Ancelmo informs that Flamengo would have to pay R$100 million to remove a large gas structure present on land acquired by the club, which is owned by CEG and CEG-Rio, which are companies that are part of the gas concessionaire Naturgy.


According to the article, the companies were informed that Flamengo is the responsible for bearing the expenses, as provided for in one of the annexes to the land purchase and transfer contract. The clause, however, does not have a specified limit.


Eduardo Paes guarantees that the removal is the responsibility of Rio's city hall.

Paes stated that the values ​​for the transfer of the structure are different from what was pointed out in the article by Ancelmo Gois. Furthermore, it exempted Flamengo from any responsibility, and that the city hall has been planning to remove it for years.


“They are making me defend @flamengo more than I would like: let it be clear that this is not the The cost of this transfer and when it happens will be the responsibility of the city of Rio, which knows that this structure cannot be in an area that is already receiving so many residential buildings. It's been in our plans for a long time! Flamengo will have its new stadium there in the gasometer with all the quality and safety that the region demands and deserves. Period!”, published the mayor.



Soccer

And this one? Caixa requests R$1 billion from Flamengo for land in Gasometer

Bank asks for billion-dollar compensation to free up land in the Port Zone

Photo: Reproduction
Photo: Reproduction

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New information has emerged about the legal impasse involving Caixa Econômica Federal and the Gasologista land, located in the Port Zone of Rio de Janeiro, where Flamengo's future stadium is planned. The state bank demands compensation of R$1.08 billion to free up the area for the club.
DEMANDS FROM CAIXA ECONÔMICA FEDERAL

According to the website Exame, Caixa is charging R$240 million for land ownership and R$840 million for air rights for the work, which would allow for an expansion of the construction potential of the stadium project. Only with the payment of this amount would the bank be willing to provide the site for construction.

In 2024, the City of Rio de Janeiro, led by Mayor Eduardo Paes, expropriated the Gasometer land. Mais Querido then acquired the area at an auction for R$146 million. However, Caixa Econômica challenged the transaction in court, triggering a long legal battle that has not yet been resolved.


ONGOING NEGOTIATIONS

To try to resolve the conflict, Flamengo, City Hall and Caixa are looking for an agreement that could put an end to the legal disputes. A deadline of mid-November this year was set for the parties to reach a consensus and make progress on the stadium project possible.



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