One of the main forces of national football, the Palm trees presented a total revenue from R$927 million in 2023, the year in which he won the second Paulistão and Brasileirão championships, in addition to the Brazilian Super Cup title. According to an EY study, published exclusively by Estadão, the value represents an increase of 7% compared to the 2022 balance sheet, when the Alviverde club closed the season with R$867 million. Despite the high value achieved, the numbers are behind Corinthians. On the other hand, the people of Palmeiras have the lowest debt among the big ones in SP.
According to the survey, Palmeiras had a 280% increase in revenue in the period between 2014 and 2023, peaking in 2021, when it raised R$977 million. In this cut-off, the Palmeiras team were only behind Corinthians twice, one of them being last year, when the Parque São Jorge club presented R$937 million in revenue, R$10 million more than its rival.
Of the R$927 million raised by Palmeiras in 2023, R$ 187 million refer to the revenue achieved from the sale of athletes, an increase of 8% compared to the previous year, when the club traded Endrick to Real Madrid for a fixed amount of 35 million euros (R$198 million at the time) to be paid in two installments — without taking into account the contractual triggers, which yielded millions more to the Palmeiras fans. Last season, the club’s main sale was midfielder Danilo, traded to Nottingham Forest, from England. The team received R$98.8 million for the deal.
Palmeiras closed 2023 as two-time State, Brazilian and Super Cup champions. Photograph: Cesar Greco/Palmeiras
“It is noteworthy that, even with the large figures made from the sale of players during this period, Palmeiras presents a diversification of revenues that consolidates it with the highest recurring revenue among clubs in São Paulo. This scenario may be a reflection of different chain factors: the club continues to have a high sporting performance in recent years, competing in finals and achieving relevant results in national and international tournaments and in the administrative field, structured governance with consolidated management and which already has long-term work”, comments José Ronaldo Rocha, consulting partner at EY.
In relation to commercial revenuewhich encompass sponsorships, licensing and product sales, Palmeiras remained stable in relation to the previous year, repeating the collection of R$ 165 million. The alviverde club was the one that saw commercial revenue grow the most in the last decade among the big clubs in São Paulo, with an increase of 611% in the period analyzed (2014 – 2023). The cut marks the beginning of the club’s partnership with Crefisa, a sponsor whose owner is José Roberto Lamacchia, husband of Leila Pereira, current president of Palmeiras.
Palmeiras also had a collection of R$ 168 million as matchday, revenues from activities that revolve around matches, such as selling tickets, food, drinks and club products at the stadium. The value is 16% higher compared to 2022, a record for the club in the period analyzed, with an increase of 377% compared to the first year of the study.
Lower debt in SP
Among the big four of São Paulo football, Palmeiras can boast of having the lowest debt. The alviverde club accumulates liabilities of R$537 million, with Santos (R$ 606 million), São Paulo (R$ 667 million) and Corinthians (R$ 886 million) appearing just ahead. Comparing income with net debt, Palmeiras residents had debt 0.58 times greater than income.
On the other hand, the survey shows an increase of 109% compared to the previous year, when Palmeiras residents had a debt of R$451 million. Historically, the club was the one that increased its debt the most, with an increase of 183% in the period analyzed.
A portion of Palmeiras’ debt is precisely with Crefisa, a sponsor that allowed the club to make a 180 turn and increase the club’s revenue, investing heavily in football. According to Leila Pereira, the outstanding debt with the company, currently at R$21 million, should be settled at the end of this year. She has already admitted to those closest to her that Crefisa may no longer be Palmeiras’ master sponsor next year. Campaigning for reelection, the president defended her “down to earth” management over the last year.
“We paid for problems from past administrations. I was the only president who, in the middle of last year, did not hire any athletes, and I was heavily criticized for that. I do what Palmeiras has the financial capacity to honor”, explained Leila, in a recent interview with TV Globo.
Still according to the EY survey, part of the total amount refers to loan debts (R$96 million) and another to tax debt (R$46 million). In both cases, Palmeiras was the only club among rivals from São Paulo with a decrease in values. The first showed a reduction of 3% compared to 2022, and a drop of 39% in the period analyzed. While the second reduced 13% compared to last season, reducing the amount by 33% in the period under analysis.
Tags: Palmeiras loses Corinthians revenue giant lowest debt analysis
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