Grêmio report new second-quarter deficit, year-to-date shortfall hits R$ 157 million | OneFootball

Grêmio will present its second-quarter accounts to club councillors on Tuesday night at the Arena, showing a fresh deficit of about R$ 33 million.

According to Gremistas.net, the shortfall across the first six months now exceeds R$ 157 million. Recently agreed income from player sales will only appear in the third-quarter statement.

Despite transfer-window revenues, the club believes it still needs to raise around R$ 50 million to finish the year without financial strain.

In response to the strained finances, the football department has moved to cut costs. A total of 26 players have departed through sales, loans or contract terminations, reducing the monthly squad spend. The target is to bring the wage bill down to R$ 18 million by season’s end.

The meeting will also discuss progress on the planned exchange of keys between Estádio Olímpico and Arena do Grêmio. The process is expected to be concluded in the coming months and will be put before the councillors.

Source: Gremistas.net

“Artificial intelligence was used to assist in creating this article based on reporting from the original source quoted.”