In his first month as president of Flamengo, Luiz Eduardo Baptista began restructuring the club according to his plans. However, away from the spotlight, he also tackled a topic that had been somewhat forgotten since the club's elections.

The project left by the previous administration

This concerns the construction of a stadium at the Gasômetro site, purchased for around 170 million reais in 2023 under the leadership of Rodolfo Landima. The new Flamengo board has outlined two immediate steps: conducting a new feasibility study and initiating talks with the Rio de Janeiro authorities about the construction timeline. The previous administration had estimated the stadium's opening date as November 15, 2029, coinciding with the 134th anniversary of the club's founding.

During the stadium's planning phase, Landima's administration presented the city's authorities with a technical feasibility report, prepared in partnership with the consulting firm Arena Events+Venues. The 109-page document, which was made available last year, included plans for various infrastructural works in the area to facilitate fan access to the stadium on match days. These included the construction of pedestrian walkways, a tunnel, and bike lanes.

© ARENA Events+Venues / Clube de Regatas do Flamengo

The new board awaits a new feasibility study

When Luiz Eduardo Baptista assumed the presidency in December, he was asked about the stadium's construction and admitted that he was not aware of any feasibility study done for the project. Consequently, a new study was commissioned from the Fundação Getúlio Vargas (FGV). In November, Landima’s administration had presented a preliminary architectural and engineering study, which served as the basis for the stadium construction project. This study indicated a total investment of 1.93 billion reais, with an expected 1.5 billion reais to be raised through naming rights.

This topic is being handled confidentially within the club and is only discussed by the Board of Directors. The new board members believe that the project presented by Landima's administration was not financially viable for the club. Within the club, there is an expectation that the FGV study will confirm this skepticism and suggest a delay to the stadium’s planned inauguration, as forecasted by Landima and his team.

The goal of the new study and dialogue with the Prefeitura

The new study also aims to open a dialogue with Prefeitura do Rio. According to the contract terms, the club must present the final project within 18 months of signing the Termo de Promessa de Compra e Venda on August 16, 2024. This means the final project must be completed by February 2026. Afterward, Flamengo will have 36 months to carry out the construction. According to the contract, these deadlines can be extended according to legal provisions, which is currently being addressed by the new board.

© ARENA Events+Venues / Clube de Regatas do Flamengo

The investment faces another obstacle

Another issue that has arisen is the decision by the State Secretariat for Energy and Maritime Economy published in the Official Gazette in December, which states that the expropriation conducted by the city does not affect Naturgy’s concession, which uses part of the land to supply gas to the city. When asked whether this would prevent the construction from starting before the company's contract ends, the Prefeitura responded that the decision pertains to the concessionaire's equipment, not the land itself.

This means that, before construction can begin, the equipment located on the site must be relocated to avoid impacting the city's gas supply. This process will also involve costs that have yet to be determined, and it remains unclear whether Flamengo or the Prefeitura will bear them.

© ARENA Events+Venues / Clube de Regatas do Flamengo

The new stadium will be built slowly

The new board is taking a cautious approach to the stadium construction enthusiasm. The first few months will be used to understand the club's financial situation; a new budget will soon be presented and voted on by the Board, and the club's cash flow will also be assessed.

We will build the stadium, but it will not come at the cost of sporting results, as happened in São Paulo, nor at the expense of massive debt like in Corinthians. We will not make those same mistakes. We will build the stadium at a pace that our financial situation allows. We will maintain the level of sporting results, and we will not let the club go into such debt that we have to switch to the SAF model. If it’s possible in four years, we will do it in four years. If in five, we will do it in five, Baptista said upon assuming office.