September 8 – Brazilian club Flamengo have said they will not leave the Libra bloc after a dispute over the distribution of money for TV rights.
Libra is a group of clubs that jointly sell broadcasting rights, but the union fell apart after Flamengo was criticized by other members after the club obtained an order from a court in Rio blocking some of the group’s proceeds from the sale. The total amount blocked by the order is R$77 million ($14.4 million).
Palmeiras chairman Leila Pereira compared Flamengo’s current management to ‘flat-earthers’.
“No chance (of requesting Libra’s exit),” said Flamengo president Luiz Eduardo Baptista. “We will live with this contract until December 31, 2029, and they will also continue to live with Flamengo until that date.”
The Flamengo chairman responded to Pereira’s comments questioning the loan from Pereira’s Crefisa bank to Vasco Da Gama. The company loaned R$80 million to the Rio club, which guaranteed 10% of the club’s shares as collateral. Crefisa, Brazilian media report, will retain those shares if the loan conditions are not met.
Flamengo had questioned the rules regarding TV distribution money and had gone to court. Libra in turn accused Flamengo of “spreading misinformation”, stated that the club’s board of directors was not seeking dialogue, and claimed that the organization’s statutes are clear on the criteria for revenue distribution.
Clubs that are part of the Libra group are: Palmeiras, Bragantino, São Paulo, Santos, Atlético-MG, Bahia, Grêmio, Vitória, Remo, Paysandu, Volta Redonda, ABC, Guarani, Sampaio Corrêa, Brusque and Flamengo itself.
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