On July 9, the city of Rio de Janeiro announced an auction for the sale of the Gasômetro land in the city's port region for the construction of a stadium for the Flamengo team. The minimum bid for the purchase of the land is 138.2 million R$, which is 102 million R$ less than the property's valuation conducted in 2023.

Deal tailored for Flamengo

Documents published by the Porto Maravilha Fund mention a FIPE report, which values over 86,000 square meters of land intended for Flamengo at 240.5 million R$, not including the land expropriated by the city hall in 2021.

On June 24, the land was expropriated from the Porto Maravilha Fund, managed by Caixa, with the severance fund (FGTS) as the sole shareholder. Because the announcement stipulated a specific goal of transforming the land into a sports facility with the potential to generate a minimum flow of 70,000 people, Flamengo will be the only bidder.

© Guertzen | Maracanã, where Flamengo currently plays

In an interview with De Primeira, sports compliance specialist Gustavo Nadalin questioned the expropriation process of the Gasômetro land for the construction of Flamengo's stadium. Nadalin stated that the land expropriation could face legal challenges. In his opinion, the process did not adhere to good practices of public administration.

A sports facility is considered to be a building or set of buildings designed to host major sports events, also including those that will be implemented as a complement or support to the main activities, such as cultural events, the announcement reads.

© Jonas Pereira, EMOP | Maracanã, where Flamengo currently plays

When will stadium be built?

Negotiations between Flamengo and Caixa had been ongoing for years, and expropriation was the only possible solution after failed attempts to reach a consensus on the matter. The auction will be held on July 31 at 2:30 PM. The stadium project must be submitted to the City Hall within 18 months of signing the contract, with a completion deadline of up to 36 months, which can be extended.

Flamengo currently plays its home matches at the famous Maracanã stadium.