Gestão financeira e desempenho esportivo: uma análise econômico-financeira de clubes da série A do Campeonato Brasileiro (2018-2023)

Abstract

Brazilian football moves significant amounts of resources and, given its growth, demands efficient financial management from its clubs. This study evaluated the economic and financial performance of seven major clubs from the Southeast region (Atlético-MG, Flamengo-RJ, Fluminense-RJ, Palmeiras-SP, São Paulo-SP, Corinthians-SP, and Santos-SP) between 2018 and 2023. Based on balance sheets and income statements, a standard index was calculated, grouping liquidity, indebtedness, and profitability indicators into quartile classes. The results show that most clubs faced a current liquidity ratio below 1.0 and a high reliance on third-party capital, as well as volatile profitability. Flamengo and Palmeiras demonstrated greater financial and sporting resilience, while Santos and Fluminense presented structural weaknesses. The comparison between on-field performance and financial indicators showed that good sporting results do not always go hand in hand with accounting solidity. It is concluded that professionalized management, revenue diversification, and strict control of liquidity and indebtedness are essential for the clubs’ sustainability.Brazilian football moves significant amounts of resources and, given its growth, demands efficient financial management from its clubs. This study evaluated the economic and financial performance of seven major clubs from the Southeast region (Atlético-MG, Flamengo-RJ, Fluminense-RJ, Palmeiras-SP, São Paulo-SP, Corinthians-SP, and Santos-SP) between 2018 and 2023. Based on balance sheets and income statements, a standard index was calculated, grouping liquidity, indebtedness, and profitability indicators into quartile classes. The results show that most clubs faced a current liquidity ratio below 1.0 and a high reliance on third-party capital, as well as volatile profitability. Flamengo and Palmeiras demonstrated greater financial and sporting resilience, while Santos and Fluminense presented structural weaknesses. The comparison between on-field performance and financial indicators showed that good sporting results do not always go hand in hand with accounting solidity. It is concluded that professionalized management, revenue diversification, and strict control of liquidity and indebtedness are essential for the clubs’ sustainability.