Federal District governor under pressure over Flamengo sponsorship | OneFootball

BRB Bank sponsorship raised questions for Governor Ibaneis Rocha

Flamengo’s Deliberative Council approved this week the expansion of its contract with BRB Bank, which went from just over R$ 20 million to R$ 42 million. The change, amid the Banco Master scandal, sparked outrage among opponents of Federal District Governor Ibaneis Rocha.

“We are facing a public bank in crisis that is increasing spending on advertising with questionable returns. It is necessary to assess whether this contract serves the population’s interest,” said deputy Ricardo Vale, who is in opposition to current governor Ibaneis Rocha.

Last Thursday (26), Vale filed two initiatives to investigate the legality of the renewal of the sponsorship contract between BRB Bank and Flamengo. The main measure is a formal complaint to the Federal District Court of Accounts, requesting an analysis of the expanded agreement by the bank, valid until March 2027.

IN SHORT, WHY IS THE DEPUTY UPSET?

BRB is a public financial institution, organized as a mixed-capital, publicly traded company, with the Federal District Government as the majority shareholder (71.92%). The group acts as the Government’s financial agent. However, at the moment, the outlook is negative, as there are liquidity difficulties and a search for capitalization alternatives, such as the use of public properties in the Federal District valued at R$ 6.6 billion, in a crisis linked to Banco Master.

WHAT IS FLAMENGO CLAIMING, AFTER ALL?

Despite BRB’s problem with Banco Master, Flamengo claims it has no way to break the sponsorship deal. The club and the institution have another partnership, which gave rise to Banco Nação in 2020, valid until 2029. Therefore, the Most Beloved understands that there is no legal argument that would justify a unilateral termination.

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