FIDC partner report forecasts surplus, but warns São Paulo over spending | OneFootball

A report produced by Outfield, Galápagos' partner in São Paulo’s credit rights investment fund (FIDC), and released on Wednesday (17) by the Morumbi club itself, detailed the club’s financial health in the first half of 2025.

The document projects a surplus at the end of the season, in contrast to recent assessments by members of the financial committee, and points to a recovery trajectory, even with football expenses exceeding forecasts.

According to the analysis, the Tricolor has already reduced its bank debt to R$ 215.8 million, down from R$ 259.2 million in 2024.

The 17% reduction in liabilities was made possible thanks to the FIDC, structured last October.

So far, R$ 135 million has already been allocated to the club’s coffers, out of a total of R$ 240 million expected. There is R$ 105 million left to be released as the club presents new eligible contracts.

The report also confirmed the R$ 50.6 million loan from Banco Daycoval, approved by the fund’s credit committee. The rate (CDI + 6.74% per year) was below the average cost of debt in 2024 (CDI + 7.13%).

The document highlights that the structure does not restrict the club, allowing for targeted adjustments to maintain cash flow.

In football, the situation remains a concern. São Paulo exceeded its projected spending limit for the season by about R$ 78 million, breaching one of the established covenants.

Despite adjustments to the squad and contract cuts, the high spending forced the club to rely on extra revenue from player transfers.

The effect was immediate: the projected revenue for the semester was R$ 44.2 million, but the actual amount reached R$ 107.2 million, driven by deals such as those involving William Gomes and Ângelo, as well as amounts received through the solidarity mechanism.

Another point emphasized was restraint in signings. The Tricolor recorded a 37% drop in player acquisition expenses compared to the same period in 2024, being the top-flight Brazilian club that spent the least on reinforcements.

There were no purchases of economic rights in the semester, reducing future commitments. Even with deficits of R$ 23.1 million in the first quarter and R$ 10.5 million in the second, Outfield sees signs of improvement compared to the R$ 287 million shortfall in 2024, when football expenses reached R$ 452 million.

“The club is showing a recovery trajectory and remains on track to close 2025 with a surplus, despite expenses above forecast in football operations so far,” the report stated.

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.