Distrito Federal governor faces pressure over Flamengo’s BRB sponsorship amid Banco Master crisis | OneFootball

Distrito Federal governor Ibaneis Rocha is under pressure after Flamengo’s Deliberative Council approved an expanded sponsorship with Banco BRB, rising from just over R$ 20 million to R$ 42 million, according to Coluna Do Fla. The decision was taken this week amid the Banco Master scandal.

Opposition deputy Ricardo Vale argued that a public bank in crisis should not be increasing advertising spend with uncertain returns, and said the contract must be assessed for its benefit to the population.

On Thursday 26, Vale filed two initiatives to examine the legality of the renewed sponsorship between BRB and Flamengo. The main step is a representation to the Distrito Federal Court of Accounts seeking review of the expanded deal, which runs until March 2027.

BRB is a public financial institution, a mixed-cap company with the Distrito Federal Government holding 71.92% and acting as the Government’s financial agent. The bank faces liquidity difficulties and is exploring capitalisation options, including using DF public properties valued at R$ 6.6 billion.

Despite BRB’s problems, Flamengo says it cannot unilaterally end the sponsorship. The club argues there is no legal basis to terminate the deal, noting a separate partnership that created Banco Nação in 2020 and runs until 2029.

Source: Coluna Do Fla