Flamengo seeks to raise 50 million euros (about R$ 307 million) in investment for the new project
Flamengo’s internationalization plans are getting closer to becoming a reality. The project was presented to the team’s Board of Directors last Thursday, 2nd, and pleased the directors. Currently, five clubs in Portugal are negotiating with the Rio de Janeiro team, according to the finance vice president Rodrigo Tostes. One of the main clubs that maintains a dialogue with Flamengo is Tondela.
In Flamengo’s project, the club can reach a place in the Champions League in seven or eight years. And the team should also take the opportunity to transform the new club into a showcase for the base athletes who currently have no space in the professional team of rubro-negro and should be loaned and used as reinforcement in the European team.
If the club proceeds with the planning, the team foresees an increase of R$ 150 million in its revenue. The project does not foresee costs for Flamengo, which must enter the brand and the financial resources must come from investors.
The Rio club is now seeking to sign with a bank to continue the project. The person with advanced talks with the rubro-negro is BTG Pactual, which must validate the plan’s calculations and projections, liquidate the operation so that investors can acquire a portion of the company’s company to be formed abroad. And if necessary, the bank should organize the mix of investors.
The idea is for the club to reach an investment of 50 million euros (about R$ 307 million). In an interview with ge, Tostes revealed that the project was unanimously accepted. “We were very pleased with the receptivity of the Board of Directors on the project concept. It was unanimous that it is an excellent path for Flamengo. Now our focus is to hire a bank and attract investors. Without investors, we cannot take the next step,” he said.