O Flamengo’s own stadium project gained decisive momentum in recent days, as the club managed to advance in a stage considered fundamental: definitive possession of the Gasometer land. This was only possible after the FGTS Board of Trustees approved the Conciliation Term that deals with the economic-financial rebalancing of the expropriation of the area. With the favorable opinion, the bureaucratic path was unlocked and Rubro-Negro now has legal security to continue planning the work.
The decision, taken last Thursday (12/19), confirmed an agreement that had been in the works since last year. Despite there already being a previous understanding, the document underwent technical adjustments in September, which resulted in an increase in the final amount paid by the club. It was decided that Flamengo will disburse an additional R$23.6 million, paid in installments over five years and monetarily adjusted, as part of the compensations provided for in the Conciliation Term.
As a result, the amount of R$138.1 million paid in cash at the auction held in July 2024 was readjusted. This increase is directly linked to the requirements for the financial rebalancing of the process and was decisive in ensuring FGTS support for the stadium project, considered strategic by the club.
When will Flamengo’s stadium be ready?
Once approved, Flamengo will focus its efforts on the next administrative and technical phases that precede the start of works. In a statement made in September, President Luiz Eduardo Baptista stated that the expectation is that the stadium will be ready from 2034, and could extend until 2036, depending on external variables.
This period is longer than that initially foreseen by the previous management, which worked with the possibility of opening in 2029.
How much will the Flamengo stadium cost?
The current board maintains that the costs of the original project were underestimated. Studies by Fundação Getulio Vargas showed that, with updated inflation, inputs and contingencies, the total value of the work could reach R$2.66 billion. Even so, with changes to the scope of the project to make it leaner, the club believes it is possible to reduce the estimated cost from R$3.1 billion – a revised projection from the previous plan – to around R$2.2 billion. Last year, the published forecast was R$1.9 billion.
In the short term, Flamengo’s priorities will be monitoring the Naturgy relocation process with Rio City Hall, the demolition and cleaning of the land – tasks that will be the responsibility of the club -, in addition to the legislative processing of CPACs and the signing of the Definitive Term with AGU, Caixa and the municipality. Thinking about the medium and long term, the focus will be on preparing the executive project that will give definitive shape to the future red-black stadium.
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