April 29 – Brazilian club São Paulo have reported a net loss of approximately $50.4 million for the 2024 fiscal year, citing a shortfall in player transfer revenues as a key factor.
The club’s financial statement revealed a total debt of around $169.8 million. Despite these figures, São Paulo achieved record revenues of $128.4 million, with marketing activities contributing approximately $41.5 million – nearly $17.7 million more than in 2023.
Football-related operations generated roughly $103.7 million, but only $16 million came from player sales.
The club had projected a deficit of $6.1 million for the year, but the actual loss was over eight times higher. To address financial challenges, São Paulo established an investment fund aimed at raising $42.1 million to settle debts impacting cash flow. As of December 31, 2024, the fund held investments totaling $14.4 million.
Club Director Márcio Carlomagno acknowledged the financial strain in a recent interview, noting ongoing efforts to reduce expenses and improve market strategies.
He told Globo: “We used to advance 100% of contracts, often to pay off past debts,” he said.
“With the fund, we are doing things differently. We are using some future assets but preserving 40% at maturity, which will teach us how to manage cash flow. Is it painful? Yes. Is it hard? Yes. But it depends on a lot of people changing their internal mindset. We are managing it, step by step.”
Last weekend, São Paulo drew 1-1 away to Ceará in the Brazilian Serie A as they sit in 10th place in the table with eight points. On Tuesday, the club take on Clube Náutico Capibaribe in the Copa do Brasil.
Contact the writer of this story, Samindra Kunti, at moc.l1745935105labto1745935105ofdlr1745935105owedi1745935105sni@i1745935105tnuk.1745935105ardni1745935105mas1745935105