Of the more than R$453 million received by Flamengo in TV rights, R$178 million was for its performance in tournaments
Flamengo earned R$1.287 billion in 2024, a record in Brazilian football, above Palmeiras (R$1.128 billion) and Corinthians (R$1.12 billion). There was a 9% drop compared to 2023, when Rubro-Negro accumulated R$1.413 billion. Even so, the numbers are significant, as shown in the Convocados Report, published this month by economist Cesar Grafietti. The 250-page document details the finances of the Série A clubs in 2024. With broadcasting rights alone – which include fixed fees and the amount tied to sporting performance – Flamengo pocketed R$453.5 million – an increase of 2% compared to the R$442.7 million of the previous year. This revenue accounted for 35% of the Rio de Janeiro club’s overall revenue. Of the more than R$453 million received by Flamengo in TV rights, R$178 million was for its performance in tournaments. Winning the Copa do Brasil earned R$93 million, while reaching the quarterfinals of the Copa Libertadores brought in R$42 million. Third place in the 2024 Brazilian Championship generated R$43 million for Urubu. With TV alone, Flamengo surpassed the total earnings of nine rivals in the 2024 Brasileirão: Vasco – R$408 million; Cruzeiro – R$372 million; Bahia – R$298 million; Fortaleza – R$269 million; Cuiabá – R$224 million; Vitória – R$186 million; Juventude – R$135 million; Atlético-GO – R$110 million; and Criciúma – R$101 million.
Flamengo’s squad for the FIFA Club World Cup
Flamengo team (photo: Gilvan de Souza/Flamengo)
Adding TV rights and sponsorship, Rubro-Negro reached more than R$871 million, surpassing the total budget of São Paulo – R$732 million; Fluminense – R$684 million; Atlético – R$607 million; Botafogo – R$540 million; Internacional – R$517 million; Bragantino – R$504 million; Athletico-PR – R$497 million; and Grêmio – R$490 million.
It was a good year, but worse than previous ones, either because fewer players were traded or because investments and debts increased, consuming cash in a large-scale project. It continues to be balanced, but it is always good to be careful.
Flamengo’s revenue in 2024
TV rights: R$453.5 million
Advertising and sponsorship: R$417.7 million
Athlete transactions: R$76.3 million
Box office/membership: R$243.6 million
Social: R$25.3 million
Others: R$70.2 million
Total: R$1.287 billion
Several surveys on the size of fan bases indicate that Flamengo’s is the largest in Brazil. It is estimated that 20% of the country’s population – around 42 million people – have the Rubro-Negro Carioca as their favorite club. The team usually fills not only the Maracanã, in Rio de Janeiro, but also stadiums in the North, Northeast and Central-West regions. The Convocados Report prepared the ranking of matchday revenues. Flamengo generated R$244 million – R$78 million from members, R$118 million from ticket sales and R$48 million from stadium operations. Corinthians comes in second, with R$165 million (R$94 million from members and R$71 million from individual tickets). Matchday revenues in 2024
Flamengo: R$244 million
Corinthians: R$165 million
São Paulo: R$148 million
Palmeiras: R$127 million
Atlético: R$113 million
Grêmio: R$111 million
Internacional: R$105 million
Fluminense: R$99 million
Athletico-PR: R$85 million
Vasco: R$84 million
Cruzeiro: R$84 million
Bahia: R$83 million
Botafogo: R$75 million
Fortaleza: R$65 million
Criciúma: R$23 million
Cuiabá: R$15 million
Atlético-GO: R$14 million
Bragantino: R$13 million
Vitória: R$10 million
Youth: R$4 million
Flamengo’s sporting success, the institution’s brand appreciation and the support of its fans have made it possible to maintain a qualified squad without having to let go of players. Proof of this is that the money from athlete transfers, seen as non-recurring revenue, closed at “only” R$76 million in 2024.
On the other hand, the club has become an “aggressive” buyer, with R$413 million invested in the professional squad and youth categories. We analyze football from two perspectives. In total revenue, we consider everything that is operational, that is, everything that was generated on the day
