The club considers the result to be normal and still expects to have a surplus for the year; Buying land for the stadium reduces cash on hand
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Flamengo released the financial balance sheet for the first half of 2024. The result presented was not the best, but the club does not create alarm. The red-black had a deficit of R$79 million until June 30th. However, Mais Querido declared that it had R$209.4 million in cash between cash in the current account and fixed income investments, an increase of R$74 million compared to the first quarter.
This amount, however, , was significantly reduced after Flamengo paid the city of Rio de Janeiro the amount of R$ 138.2 million related to the auction of the Gasometer land for the construction of its own stadium. With the purchase, the cash amount increases to R$71.2 million.
According to the presentation, Flamengo stands to receive R$ 208.8 million from the sale of athletes, with R R$165.2 million in short-term payments and R$43.7 in the long term. The club, however, does not heed the alert and expects a better result from the second half of 2024.
The board claims that “due to its strong operational cash generation capacity and the long terms of these payments, this balance presented in 2Q/2024 does not mean that the club needs to sell athletes in equivalent amounts or take out loans.”
Check out the result presented by Clube de Regatas do Flamengo
“We ended this first quarter recording an accumulated deficit of R$79.5 million. This result is approximately R$121 million lower than the result for 2Q2023 (positive by R$41.5 million), since the result for that semester was strongly impacted by the sale of the rights to player João Gomes in the beginning of the year window , which generated non-recurring revenue of R$ 103 million.
Better understanding the variation in recurring revenue, which does not include the sale of athletes, a slight reduction can be observed in relation to the same period of the previous year: R$458.8 million in recurring revenue compared to R$469.5 million in 2023, which does not generate long-term concerns, since this performance was due to the occasional reduction in revenue from participation in competitions, since in the previous year we competed in more competitions in the first quarter (Recopa Sul-Americana, Supercopa do Brasil and Club World Cup).
In conclusion, this deficit result in the first semester is natural and expected, due to the typical seasonality of revenues of the football industry. Our current estimate remains of a surplus result in 2024, which will allow us to continue in a sustainable manner, competing for the main places in the competitions in which we participate.”
Striker awaits end of contract and red-black election to understand possible paths
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In the relationship between Gabigol and coach Tite at Flamengo, only the field is capable of speaking. Between the striker and coach, there is practically no dialogue, and the cold and silent war dictates that only one of them should remain at the club for the season in 2025.
No atmosphere with the coaching staff and also with the squad , Gabriel Barbosa has been convinced to change and airs, but even the clubs that expressed interest in the first half of the year backed away. With a contract at Flamengo until the end of December, Gabigol had offers from Palmeiras, Corinthians and Santos, was mentioned at Grêmio, but did not want to sign a pre-contract with any team.
The expectation was to try to turn things around on top in the second half, otherwise he would end his time at Flamengo like the idol he became, without any fuss.
Tite's arrival last year changed the entire perspective of the striker, who was already in a bad phase previously, and lost his place once and for all to Pedro with the presence of the new coach. With the center forward's recent injury, Tite kept Gabigol at the end of the line, under the argument that Carlinhos and Bruno Henrique perform better in the scheme with a reference man .
Without understanding the criteria, Gabi maintains her dedication to the basic level of professionalism in training, as it is not part of the coach's or the club's plans for a possible renewal. With the chances of a comeback practically buried, the two possible paths are to wait for the election in Flamengo to find out if Tite will remain with the next president; or wait for the end of the contract to freely listen to proposals again. Palmeiras and Santos have not yet given up on the idea, and Bahia appears as an option, as it has good investment capacity.
The offer made is 90% of the club
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Retired from the field since 2017, former midfielder Zé Roberto, who had a spell at Flamengoin the 90s, it is looking to buy 90% of SAF from São Bento, a club in São Paulo. According to GE, a meeting scheduled for this Wednesday night (18) could decree the sale of the Sorocaba team to the company Flash Forward, which belongs to the former player.
Zé Roberto is the main name of the company. However, the group also has partners such as former athlete Fransérgio and businessman Tiago Ribeiro (former CEO of Estoril). In addition to Flamengo, Zé played in Brazilian football with the shirts of Palmeiras, Santos and Grêmio. In Europe, the former athlete defended giants such as Real Madrid and Bayern Munich.
The offer is R$130 million, which would be paid in installments. This amount would be invested on a specific basis in the football team and the club’s structure. The project is to take São Bento to the elite of São Paulo football and Brazilian Series B in up to six seasons.
Revelation from Portuguesa-SP, Zé Roberto stood out at Lusa and caught the attention of Real Madrid in 1997. However, the player had difficulty fitting into the Spanish club and was loaned to Flamengo in 1998.
At Flamengo, Zé Roberto was a starter in the Campeonato Carioca competition, entered the field 23 times and aroused the interest of Bayer Leverkusen , leaving Gávea in the same season. As an athlete, the former midfielder also played in the 2006 World Cup for the Brazilian team.
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