Flamengo issues note responding to article by UOL journalist

This Friday morning, journalist Rodrigo Mattos, from UOL, published an article talking about Flamengo's finances. In this sense, the article "explains" that the Gávea team had a reduction in cash and that the club is experiencing a certain financial squeeze, due to the purchase of the land from Gasologista, among other points.

Therefore , the club issued an official note, responding to the article on the UOl portal, denying such information, repudiating and clarifying some points in the publication.

"The Clube de Regatas do Flamengo, in view of the article on the UOL portal, written by journalist Rodrigo Mattos, today, September 13, 2024, with the title “Flamengo has a cash reduction and financial squeeze after a series of expenses”, comes to clarify some points.

The Financial Statements for June this year, published by the club, are in line with its budget Flamengo presented an economic result and a. cash flow better than budgeted for the period.

Currently, the club is experiencing a political environment due to the proximity of the elections and the journalist mentioned above recognizes that the matter arises from information he received from opposition advisors. The article cites an analysis carried out by the Deliberative Council's finance committee, subordinated to a declared supporter of an opposition candidate, which took into account unofficial premises to establish a narrative that the investments made by Flamengo could cause financial difficulties for the club.

Regarding investments in athletes, the values ​​mentioned in the article are economic, which are not reflected to the same extent in cash. As the history of our signings shows, they are, for the most part, made on a fixed-term basis and the club has recently renewed recurring revenue contracts, with increased amounts, sufficient to maintain its financial health and fulfill its obligations on time.< /p>

It was thanks to this financial health that Flamengo was able to reformulate its squad in the face of the challenges that the season imposed on us, participate in the auction promoted by the City of Rio de Janeiro and purchase the land from Gasologista for the construction of its stadium , an old dream of the entire Nation. This decision was approved by the club's Deliberative Council.

The expectation for the end of 2024 is a positive result, even with all these investments, and a cash balance balanced enough to maintain its operation and a qualified squad at a high level, capable of continuing to compete in all championships with protagonism, honoring its winning history.

It is worth highlighting that the current management is the one that generated the most revenue, delivered profits, paid debts, won sportingly and invested in heritage in Flamengo's history, with recognized improvements to the headquarters, acquiring the stadium's land, winning the Maracanã tender and expanding and modernizing the George Helal Training Center. All of this with the best management practices and financial responsibility guiding all our decisions.

Red and black greetings!"

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