Flamengo, boosted by winning their national and continental crowns, are set to report a record revenue of 959 million reias ($208 million) in 2019, according to an internal club report that will be submitted to an auditor.
The arrival of Portuguese coach Jorge Jesus last year galvanized the Rio club. After years of financial austerity, Flamengo spent heavily in the transfer market to build a competitive team. Jesus moulded a mix of young and experienced players into a tight unit with a cogent strategy. Flamengo ran away with the domestic league and won a first Copa Libertadores title in nearly four decades after a stirring turnaround against River Plate.
The club tweaked their operating model to their own size and circumstances, without substantial outside investment. Revenue is mainly generated from ticketing, merchandise, membership, television income, and outgoing transfers’ almost topping the 1 billion reais mark in 2019.
In 2018, the Brazilian champion totalled 543 million reais ($117 million) in revenue, a difference of $86 million.
The 2019 operating profit stands at $62 million, almost double the 2018 pre-tax profit. Flamengo banked $85 million in TV rights and $29 million in prize money from winning both the Brazilian and South American title, and participating in the Club World Cup last December in Qatar, when the Brazilians reached the final only to fall to an extra-time Liverpool strike.
This year, Flamengo will need to enjoy a good domestic campaign and reach at least the semi-finals of the Copa Libertadores to match last year’s overall success. In 2020, the club has already added two trophies to its trophy cabinet, the South American Super Cup and the Taca Guanabara.
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