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Not even the Flemish you are free from the financial problems caused by the new coronavirus. To protect himself, rubro-negro used a pre-approved line of credit to make a bank loan of R $ 40 million. The intention is to maintain cash flow and gain momentum during the pandemic.
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The information was initially published by journalist Gustavo Henrique and confirmed by Balloon. Internally, the evaluation is that the loan will give Flamengo the peace of mind to act and calculate the impacts that the pandemic will have on the finances of the clubs. The maneuver is considered normal.
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So far, in addition to the absence of games that brought problems to the box office and the fanatic partner, the red and black has seen Adidas, supplier of sports equipment for the club, not deposit one of the semi-annual fees that must be paid to Flamengo for contract. The value is around R $ 8.8 million.
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Royal Olive Oil, a company that had sponsorship in the red-black uniform shorts, requested the unilateral termination of the contract.
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Previously, the Dinheiro FC blog, by Balloon, revealed that Flamengo published in its 2019 financial statement a projection on the club’s finances against the new coronavirus pandemic. From the point of view of the red-black board, the impacts are “absorbable”.
“In connection with the COVID 19 pandemic that spread worldwide and began to impact the region in mid-March, the CRF Administration conducted a stress test using the available information and designing a game interruption scenario for up to 3 months. ” The conclusion is that the financial impacts are absorbable and do not represent a risk of continuity in operations.
It is believed that the situation is transitory and that the club’s income, with the exception of the box office, will not undergo significant changes in this period and can be compensated even throughout the year, “says the publication.
In 2019, Flamengo reached R $ 950 million in gross income. The final number is greater than that estimated by the club in the management report, a document published before the audit.
