Santos, Other Brazilian Clubs See Uptick In Revenue Over Past Three Years
Brazilian FC Santos President Luis Alvaro Ribeiro has used "an overhaul of its amateur era statute and the hiring of int'l experts in management, marketing and law" to resurrect the club's income, according to REUTERS. Santos is earning more than $19M from shirt sponsors and has seen its annual income rise from $34M to $90M in three years. The club recently launched a new away shirt in "electric blue" and sold 25,000 in 45 days. Three years ago, it sold fewer than 4,000 shirts. The rise in income "would have been impossible without the restructuring process Ribeiro put in place." It is "one of several" being undertaken among Brazilian football's "heavily indebted clubs." Similar changes are occurring at other Brazilian clubs as "younger executives take over from an older generation of directors, many of whom faced accusations of mismanagement." Income is "rising hugely" as a result. The top 20 clubs generated R$2.1B ($1B) last year, a 27% increase on '10 and up 73% from four years earlier (REUTERS, 6/20).