WHAT IS LEFT FOR FLAMENGO TO OFFICIALLY WIN THE MARACANÃ CONCESSION? UNDERSTAND

On the morning of this Wednesday (8), the envelopes were opened with the financial proposals for the administration of Maracanã over the next 20 years. The victory of the Consortium formed by Flamengo and Fluminense became a matter of simply completing formalities following the outcome of the appeal on the technical proposal for the concession of Maracanã, these formalities do not end with the opening of the envelopes.

Now, the Special Bidding Committee will analyze whether the Fla-Flu Consortium has included all the necessary documentation to accompany the financial proposal, which includes a business plan for managing the stadium. After the analysis is completed, the financial note of the duo and the Maracanã Para Todos Consortium, which will go through the same process, will be published in the Official Gazette.

From there, the two consortiums will be able to appeal within five days of the result to the Bidding Committee. Then they will have another five working days to present the response to the rival's appeal. Only then will the Bidding Committee give the final and average financial score and proclaim the winner of the bid.

Once declared the winner, the Fla-Flu Consortium will have up to 60 days to establish the Fla-Flu Company and actually sign the concession. This company will have controlling interest in Flamengo, with 65% of the stake, compared to 35% for Fluminense. The company will have to deposit a guarantee of 2% of the grant value – the minimum is R$186 million, but the calculation will be made based on the value proposed by the Fla-Flu Consortium.

Internally, the Flamengo will have this period to approve the signing of the contract in the Deliberative Council. Defeat is unlikely, but the notice provides that, if a consortium wins and does not take over, it will have to pay a fine of 10% of the minimum grant amount. In this case, the second placed team (Consórcio Maracanã Para Todos, by Vasco and W/Torre) would be called upon to take over Maracanã.

The Vasco consortium has also made it clear that it will not accept defeat and will try to continue questioning the notice in court, which could delay the signing of the commitment. Until it happens, the Provisional Term of Use by which Flamengo and Fluminense have already managed Maracanã since 2019 will continue to be valid.

Once the concession is signed, the 20-year term begins to be valid. The schedule of interventions in the state to which Flamengo, as leader of the consortium, committed itself in the technical part, is also beginning to be implemented, which foresees expenditure of R$59 million in the first year, R$182 million in the first three years and R$393 million over the 20 years of the Maracanã concession.