Palmeiras reduces debt with Crefisa and starts 2024 with a surplus

Palmeiras reduces debt with Crefisa and starts 2024 with a surplus
Palmeiras reduces debt with Crefisa and starts 2024 with a surplus
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Written by Lance!

• Published on 04/02/2024 – 12:35 • São Paulo (SP)

With a surplus of R$46.8 million, Palmeiras released the financial balance sheet for the months of January and February 2024. Verdão is also getting closer to eliminating its debt with Crefisa.

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At the end of last season, Verdão’s debt to its main sponsor was R$25 million. In February 2024, the value is around R$21.4 million.

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SURPLUS

Just from the sale of players’ economic rights, Palmeiras earned around R$106.5 million, almost R$50 million more than initially projected. This was the main factor for Verdão’s surplus in the first months of the year.

The sales of Artur to Zenit, from Russia, and Kevin to Shakhtar Donetsk, from Ukraine, were Verdão’s main negotiations in the last transfer window.

REVENUES

Palmeiras had calculated receiving R$73,883 million in revenue in January, but closed above budget, with R$128,764 million. In February, Verdão’s revenue was R$63,641 million, R$9.1 million more than the foreseen.

The alviverde board tends to adopt a conservative stance when budgeting prize and revenue targets.

Verdão’s financial statement in February 2024 (Photo: Disclosure / Palmeiras)

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EXPENSES

Palmeiras’ calculations in the first two months of the year were within what the board expected. In January, the club estimated to spend R$80,193, and closed R$1.9 million above forecast. In February, the expectation was to have R$65,187 million in expenses, and the total was R$63,434 million.

List of Palmeiras’ income and expenses in 2023 (Photo: Disclosure / Palmeiras)

The article is in Portuguese

Tags: Palmeiras reduces debt Crefisa starts surplus

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