Flamengo’s Deliberative Council approves the contract, lasting five years, during which the club will receive the funds
The Deliberative Council of Flamengo approved, this Monday (19th), a new contract for advertising signs. Over the next five years, the club will receive more than R$330 million. The signage exploration will take place in the stadiums where the team plays in the Brazilian Championship.
With a majority of 142 votes in favour, 6 against (2 abstentions), the councilors approved the agreement with Brax, a renowned company in the sector of management of advertising signs in stadiums. The contract includes a staggered payment structure: R$24 million this season, followed by R$50 million in 2025; R$55 million in 2026; R$60.5 million in 2027; R$66.55 million in 2028 and, finally, R$73.2 million in 2029.
Flamengo has a forecast surplus of one billion dollars
Brax recently signed a five-year contract with Corinthians worth R$240 million. Following the split with Promozione Sportiva in 2019, Flamengo have individually negotiated advertising signage, with most current deals valid until 2024. However, in a bid to optimize their revenues, the club has opted for a new approach.
The new contract, therefore, once again highlights the financial level of the club. Revenue forecasts for 2024 are over R$1 billion in recurring revenue, excluding player transfers. Furthermore, the estimated surplus is R$303 million.
Follow Jogada10 on social media: Twitter, Instagram AND Facebook.
Source: Terra
Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.
