São Paulo Futebol Clube ended 2025 with a surplus of R$56 million. The result reverses the deficit of R$287.6 million recorded in 2024. Gross revenue reached a record last year: R$1.07 billion.
The financial statement also shows that net debt fell to R$858.2 million, which represents a reduction of R$110 million in total debt compared to last year.
Investment in the SPFC football department was R$55 million, half of the previous year. The reduction was because, in 2025, the club prioritized the arrival of free athletes on the market or through loans.
Revenues from the sale of economic rights totaled R$283.7 million. Among the negotiations during the period are the departures of William Gomes, Matheus Alves, Henrique Carmo and Lucas Ferreira. On the other hand, expenses with intermediaries jumped from R$4 million in 2024 to R$31.3 million in 2025. The sale of Lucas Ferreira to Shakhtar Donetsk (Ukraine) was the one that generated the largest payment to businesspeople: R$11.8 million.
DISAPPROVED ACCOUNTS
Despite the improvement in indicators, the accounts were rejected at a meeting held in March. The score was 210 votes to 24 for rejection. The decision followed the report of the independent auditor RSM Brasil, which issued a qualified opinion due to cash withdrawals of approximately R$11 million whose purposes and destinations were not documented. The disapproval resulted in the resignation of the club’s Julio Casares.
In a post on his social networks, Casares said that the resignation was to protect his health and his family from “very serious attacks and threats“. He said the club faced months of instability, marked by external pressure and narratives that went beyond the legitimate institutional debate..
The former president said that his departure does not represent a confession of guilt and reaffirmed that he had not committed any irregularities in his administration. He highlighted achievements such as the 2023 Copa do Brasil. Dstated that his removal aims to allow investigations into the club’s governance to occur in a technical and impartial manner.
At the meeting on March 25th, Harry Massis Júnior, the now president, defended the approval of the balance sheet to avoid difficulties in obtaining new bank credits.
