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Worried? Flamengo presents 2024 financial report with increased debt
Mengão released values audited by Big Four and saw an increase in deficit with the purchase of the gasometer land and investments in the middle of the year
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Flamengo published this Monday (31) its annual report with the audited financial statements for the 2024 fiscal year, as provided for in the club's Statute. The 80-page document details the Rubro-Negro's revenues, expenses and asset evolution.
Flamengo's debt and impact of the land for the stadium
The balance sheet reveals that Flamengo's net operating debt had a significant reduction from R$217 million in 2022 to R$48 million at the end of 2023. However, with the investment in the purchase of the Gasômetro land, aiming at the construction of its own stadium, and in players in mid-2024, the value rose to R$327 million .
On the other hand, the club's revenue remains above the R$1.2 billion mark, but showed a slight drop compared to the previous year. In 2022, revenue was R$1.290 billion . In 2023, even without winning any titles, it reached a record of R$1.440 billion. Last year, the club recorded R$1.334 billion in revenue.
In the document, Flamengo presents a drop in revenue generated by the fan membership program and also from the box office , but that the amounts were offset due to prizes, such as the Copa do Brasil title and the position at the end of the Brazilian Championship.
“The club's results in 2024 were driven by growth in commercial revenues and prize money for titles, which offset the drop in matchday revenues, as box office and fan club performance was below expectations,” the document explains.
Approval by the Supervisory Board
The financial assessment was carried out last Thursday (27) by Flamengo's Fiscal Council. In the signed opinion, the councilors considered that the Financial Statements correctly reflect the club's financial and equity situation .
The document will now be submitted for consideration by the Deliberative Council , which will analyze the numbers presented and officially validate the financial balance for the season. See the note from the Fiscal Council.
“The Fiscal Council of Clube de Regatas do Flamengo , in exercise of the powers defined by article 115 of the Bylaws, in a resolution held on this date, based on the examinations carried out, on the information and clarifications received during the fiscal year and having analyzed the Financial Statements as of December 31, 2024, which include the Balance Sheet, the Income Statement, the Statement of Changes in Equity, the Cash Flow Statement and the Explanatory Notes, as well as the Independent Auditors' Report, issued by Ernst & Young Auditores Independentes S/S, aware of the observations recorded in this Report, is of the opinion that the aforementioned Financial Statements adequately represent , as to the relevant aspects, the patrimonial and financial situation of Clube de Regatas do Flamengo as of December 31, 2024 and, therefore, are in a condition to be submitted for approval by the Deliberative Council”.
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Flamengo's Social Responsibility receives the AIDEP Award at a social impact event
Recognition highlights the importance of the clubs' work in the social field, especially with children and teenagers from projects spread around the world
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On Saturday night, the 21st, Flamengo's Social Responsibility department was notably recognized with the AIDEP Social Impact Award during the FutEdu Summit 2025. The ceremony took place at the Hard Rock Café, in Curitiba, and brought together representatives of clubs and institutions that work with sports and social impact in South America.
Organized by the International Association for the Development of Sports and Parasports - AIDEP, the award is a recognition given to clubs and institutions that use football as a tool for social transformation.
The award highlighted Flamengo's Social Responsibility work as a reference in promoting opportunities for children and teenagers from socially vulnerable contexts, combining football with socio-emotional education, such as Jogaremos Juntos, Flamengo's social project, which includes 1,000 children and teenagers in eight communities in Rio and Baixada Fluminense, as well as other social initiatives of the club that have already impacted more than 200,000 people.
AWARD PURPOSE
“Welcoming Flamengo to the FutEdu Summit is an immense honor. A club with so much history and relevance in Brazilian football inspires and further strengthens our commitment to education through sport,” said Diogo Netto, CEO of the FutEdu Summit.
The main objective of the Award is to recognize, value and encourage football schools and social projects that use sport as a tool for innovation, education and social transformation. It promotes visibility, strengthens good practices and establishes a standard of excellence in the sports-educational sector.
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Sesc Flamengo signs North American star
Mais Querido continues to restructure its current squad and will now have the reinforcement of the athlete, who was elected the best striker in the Turkish championship.
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Sesc Flamengo continues to restructure, with new players arriving and leaving. As such, Mais Querido has signed Simone Lee, a 28-year-old American who played last season for Megabox Vallefoglia-ITA.
WHO IS SIMONE LEE?
Simone Lee 's signing has been rumored for some time. The athlete is 1.88m tall and also has a German volleyball background, enjoying the peak of her career last season. She was voted the best attacker in the 2023/24 Turkish Championship.
Throughout her career, Simone has won two German Championships, one Italian Championship, one German Cup and one Nations League for the United States. She was discovered by Pennsylvania State University and went to Europe in the 2017/18 season.
SIMONE'S HUSBAND CAN STRENGTHEN THE FLABASQUETE
According to information from the "Garrafão Rubro-Negro" portal, Simone's husband, German winger Lukas Wank , may join Flabasquete. Lukas will come to accompany his wife, but will need to find a new club after leaving Germany.
Last season, Lukas played for the Wurzburg Baskets, playing in 13 games and averaging 2.3 points, 0.6 assists and 1.3 rebounds. Previously, he played for Oldenburg, Skyliners Frankfurt, Lowen Braunschweig, Niners Chemnitz, RheinStars Köln and Science City Jena.
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Bap reveals Flamengo's financial situation left by Landim's management - check it out
The president of Mais Querido opened up about the moment the club was in after the departure of the former management at the beginning of the year
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Luiz Eduardo Baptista took over as president of Flamengo in January, after winning the red-black elections at the end of 2024. Thus, the leader of Mais Querido gave a quick interview to the press present in the United States and exposed the financial reality that the club found after the end of Rodolfo Landim's management.
Flamengo had money for two days, so Flamengo had a good economic situation, but a bad financial situation", highlighted Bap.
He continued: "If Flamengo were a company earning R$1.5 billion per year, it would have to have around R$300, R$400 million in cash. That's how you run a company. No one runs a large company with less than 3, 4 months of cash in hand. Like that guy who has furniture, furnishings, but no money in the bank. He had no liquidity," revealed Bap.
INCREASE IN DEBT IN 2024
It is worth remembering that Flamengo released the annual report with the audited financial statements for the 2024 fiscal year. The balance sheet even showed record revenue of R$1.3 billion, but also indicated a 581% increase in net operating debt, which went from R$48 million to R$327 million, and a deficit of R$734 thousand.
SOLUTIONS TO SAVE MONEY
Finding itself in a delicate financial situation, Flamengo 's focus at the beginning of the year was to increase its cash flow. Thus, with the non-renewal of David Luiz and Gabigol's contracts, the Rubro-Negro made room in the monthly payroll. In addition, the Rubro-Negro agreed to sell Fabrício Bruno to Cruzeiro for R$44 million.
FOCUS ON SEASON SEQUENCE
So, while Bap continues trying to recover Flamengo financially, the red-black squad focuses on the next commitment in the Club World Cup. Rubro-Negro returns to the field this Tuesday (24), at 10 pm (Brasília time), for the match against Los Angeles FC.
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