President Rodolfo Landim admitted in an interview with CBN on Sunday that Flamengo “is putting together an economic condition for a stadium” and that the discussion on the financing model for construction should only happen after the acquisition of the land. In other words, he opened up the possibility for Flamengo to pay for the land in cash with the money it has on hand.
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According to the balance sheet published last week, Flamengo ended 2023 with R$234.487 million in cash. Furthermore, the club still has R$38.686 million in accounts receivable and R$123.423 million to receive in player transfers in 2024, totaling almost R$400 million.
The value of the land that Flamengo is negotiating with Caixa Econômica Federal is around R$250 million – the club is negotiating to lower the price.
Flamengo ended 2023 with a surplus of R$320 million, that is, it spent R$320 million less than it raised. If it maintains the level of revenue and expenditure in other figures in 2024, it will therefore be able to pay the amount requested by Caixa Econômica Federal to purchase the land in Gasometer.
In the interview with CBN, Landim said he considered the land “perfect” in terms of location and admitted that there is no other available in the same conditions. At the beginning of last week, during the Libertadores draw, Landim said that Flamengo is working with two alternative grounds to that of Gasologista.
The president’s intention is to complete the purchase of the land before the end of his term, in December. But any investment of this magnitude will depend on approval by the Deliberative Council, where fears about the creation of a SAF (Sociedade Anônima de Futebol) to finance the construction of the stadium could affect the vote.
