💸 Report says Santos debts top R$ 1 billion | OneFootball

A report prepared by Santos’ Fiscal Council reveals that the club’s debts have already surpassed the R$ 1 billion mark, according to ge.

The document, concerning the financial statements for the first quarter of this year, will be submitted for review by the Deliberative Council next Tuesday, at a meeting at Vila Belmiro. The topic will only be presented, without going to a vote.

The figures show that the team’s total liabilities reached R$ 1.094 billion at the end of March. The amount represents an increase compared to December of the previous year, when the debt stood at around R$ 998.5 million.

Despite the increase, the Fiscal Council noted that the current scenario is better than projected. The initial estimate indicated that the debt could reach R$ 1,163,739,000 during this same period.

The financial statement also details an increase in labor obligations, which jumped from R$ 37,706,000 to R$ 68,810,000. Costs related to image rights also rose, going from R$ 25,970,000 to R$ 50,867,000.

As a basis for comparison, the payroll for the professional squad, which was R$ 21.9 million in October last year, rose to R$ 29.6 million in March this year.

The report explains that the increase in these costs is directly linked to the signing of new players and the squad’s overall appreciation in value.

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

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