Brasileiro club Flamengo is "trying to turn the tide after years of financial mismanagement," according to Samindra Kunti of INSIDE WORLD FOOTBALL. Club Chair Eduardo Bandeira de Mello "keeps the club's purse in check" and Flamengo is now projected to close '15 with a pre-tax profit of €22M ($24.75M), equaling the pre-tax profit of a trio of São Paulo clubs together: Corinthians, Palmeiras and São Paulo. Palmeiras is projected to make a €15.5M ($17.4M) pre-tax profit, following the inauguration of its new stadium. Corinthians will make a €4.3M ($4.8M) pre-tax profit and São Paulo just €2.2M ($2.5M), according to a study by Brazilian bank Itau. Flamengo received 20% more income from gate receipts this season, while it "kept expenses at a level similar to last season." Itau's study said, "The financial management is impeccable, putting the club organisationally back on the rails, but it's time to pursue sporting success now. It doesn't suffice to put the club back in order. Good management requires an executive and organizational timeline so you can actually put together a team that could win titles, for without them the fan pulls away, sponsors depart, revenues fall and all the effort will have been wasted" (INSIDE WORLD FOOTBALL, 8/27).
