Santos post R$38.5 million deficit in Q3 2025, club receives warning | OneFootball

Santos reported an accounting deficit of R$ 38,598,317 in the third quarter of 2025. The balance sheet will be presented at a meeting of the Deliberative Council on December 1st.

The budget had forecast a debt of R$ 8,668,182. In other words, a difference of R$ 29,930,135. In the same period, the club recorded an operational surplus of R$ 3,682,398.

The actual revenue was R$ 180,983,733, above the budgeted R$ 113,282,883. Within this total, revenue from the sale of federative rights and loans reached R$ 79,391,981, compared to the R$ 50,180,000 budgeted.

The operational cost reached R$ 161,568,491, while the budget had forecast R$ 84,816,115. Within these costs, expenses with salaries and charges totaled R$ 68,972,402, above the R$ 50,042,590 projected.

Meanwhile, administrative expenses totaled R$ 15,732,844, compared to the R$ 12,321,951 set in the budget.

Squad Cost

In total, Santos spent R$ 61,048,949 on the professional squad, which represents the largest part of the club’s payroll and includes salaries and image rights.

This number soared compared to the second quarter, which closed at R$ 37,622,870.

According to the Fiscal Council, the increase is due to the reduction that occurred in June, influenced by the accounting reclassification of Neymar’s image rights expense (accrual basis), the break for the Super Club World Cup — which coincided with the squad’s vacation, a situation similar to January — and the departure of some players, factors that reduced costs that month.

Except for June, the values in the 3rd quarter were below those recorded in April and May.

Conclusion

The Fiscal Council expressed concern about the figures and issued a warning to the Santos board.

“The figures alert us to make corrections by the end of the cycle and to ensure an equalization based on the budget approved by this council for the period. When the quarterly numbers deviate, quarter after quarter, from the budget, we need to raise the alert for corrections and adjustments, so that we can achieve the goal set at the beginning of the year,” the body wrote.

“Management must take action so that the numbers do not stray from what was budgeted, bearing in mind that the budget was already drawn up in a scenario that is not very favorable to our reality. We are aware that the Neymar factor significantly changes this scenario, but it is essential to maintain austerity in containing new debts and renegotiating old ones, so that they do not increase substantially,” it concluded.

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