São Paulo’s Finances: The Millionaire Debt and Plans for the Future

São Paulo’s Finances: The Millionaire Debt and Plans for the Future

Carlos Belmonte spoke about São Paulo’s finances and debts (Photo: Reproduction/Instagram)

The millionaire debt that São Paulo carries is nothing new to anyone. The club closed the 2023 season, according to the official balance sheet released, with R$666.6 million in debt.

The year that ended Julio Casares’ first term as head of the club had a deficit of R$62 million, in addition to an increase in debt by R$80 million compared to 2022. The value before was R$586.5 million.

For São Paulo, however, everything is absolutely under control, as the club’s football director, Carlos Belmonte, said in an interview with the channelTricolor Grandstand. The leader even said that the debt will never end.

“What do we have to improve? Cash flow. As? Renegotiating the debt and little by little reducing it. This debt will never end! No club will end its debt. You will control it, reduce it, keep it under control, lower it little by little, that is our idea. If we don’t have competitive teams, you won’t raise money for the club. We always need to invest as much as possible in the team”, said Belmonte, who explained.

“We took on the debt, it grew, then it fell, and it grew again last year. Why does debt grow? Because at some point you make decisions to make some investments. We thought that the arrival of Lucas and James at that moment would change the history of the Copa do Brasil. We invest in everyone’s self-esteem”, said the leader.

Belmonte also spoke about what São Paulo’s biggest financial sources are currently and how the club works with this.

“Today we have four ways to recover little by little and reduce the debt: box office, television, awards and sales of athletes. Last year we made investments to make the team better. I think our debt is absolutely under control. If I have one year’s revenue from my company as debt, I don’t even consider it debt, I consider it as an investment. I am reinvesting what I earn in my business. São Paulo is on that path today. São Paulo has excellent box office sales and the team has won titles again”, explained Carlos Belmonte.

“I know that Júlio (Casares) is very committed to seeking a renegotiation of this debt, a new path to extend more deadlines, reduce annual interest payments. I think we will soon have something new in this area”, warned the São Paulo director.

2024-06-18 00:09:13
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