A study done by audit and consulting company BDO revealed that Corinthians FC is the most valuable football club in Brazil "for the fourth year in a row," according to Bruno Winckler of iG. The Copa Libertadores winner is valued at a little over R$1B ($516M), a "record for Brazilian teams." Corinthians is followed by Flamengo R$792M ($389.2M), São Paulo R$771M ($378.8M) and Palmeiras R$481.2M ($236.4M). BDO Sport Division Dir Amir Somoggi said that the study "reflects the ability of Brazilian clubs to collect and generate revenue." He did explain that having the ability does not mean "it has been totally explored." Somoggi said, "The Corinthians brand was valued at a little over R$1B because it is capable of generating these revenues. But they collect a lot less than this. For example: If the club was put up for sale it would not be sold for that price." In '11 the club collected R$290M ($142.5M). The São Paulo club and its Brazilian rivals are still "very far behind European clubs," not because of the conditions, but due to "administrative incapability." Somoggi: "If Flamengo, with the largest fan base, collected what Corinthians collected they would have the most valued brand in Brazil" (iG, 7/17).
