Football, the world's most popular sport, is a growing industry in which financial success is crucial to building competitive teams. The millions moved through sponsorship contracts, broadcasting rights, and ticket revenue allow clubs to invest in infrastructure and talent.
Although Brazil is South America's largest football market, its income distribution is not exactly "fair." In 2022, 49% of the revenue from the Brazilian Championship Série A went to just four clubs: Flamengo, Palmeiras, Corinthians, and São Paulo.
According to economist Cesar Grafietti's 2023 Relatório Convocados, these clubs earned around R$3.3 billion, almost as much as the other 16 teams in the top tier of Brazilian football combined.
Flamengo Has the Largest Share of the Revenue Pie
On its own, Flamengo holds the largest portion of revenue, with 16.9% of the total generated by the elite of Brazilian football more than a year earlier. Palmeiras, which won the Brazilian title, comes next with 11.4%. Corinthians recorded 10.7%, while São Paulo had 9.6%. These percentages reveal a significant disparity between the red-and-black club and the trio from São Paulo, even within this select group.
In 2023 alone—the year after economist Cesar Grafietti produced the 2023 Relatório Convocados—Flamengo surpassed R$1 billion in revenue, which may represent even greater growth compared with what the club's accounts recorded in 2022. This development tends to widen the gap between Flamengo and its peers.
Revenue vs. Overall Performance
The report also shows the relationship between the amount clubs earned and their performance in the Brasileirão standings. The figures demonstrate the connection between the ability to raise resources and sporting performance. Among the four clubs that earned the most in 2022, two finished in the top four—champion Palmeiras and fourth-place Corinthians—while three finished in the top five. Flamengo, which finished fifth, won the Copa do Brasil and the Libertadores.
This correlation also appears in the relegation zone. Of the four clubs with the lowest revenue in 2022, three ended the season in the bottom four: Atlético-GO, Avaí, and Juventude. Only Goiás managed to avoid that fate and was not relegated. Ceará went down in its place.
