Brazilian Football Clubs Accumulating Large Debt
Brazilian football clubs have more than R$3B ($1.46B) in debt, according to Marcelo Damato of LANCENET. Debts continue to increase "above inflation" but thanks to a new contract with TV Globo, revenue has also increased. Five clubs, including four from Rio de Janeiro stand out from the rest when looking at their debt situation. Botafogo has R$483.3M ($234.8M) in debt, Fluminense R$380.5M ($184.8M), Vasco R$379.2M ($184.2M), Atletico-MG R$358.5M ($174.1M), and Flamengo R$333.6M ($162.1M). Those five teams alone owe R$1.9B ($923M), close to 65% of the total debt (LANCENET, 6/12).