Financial Situation
In 2006 Botafogo had Supergasbras and Alê as sponsors, the arrangement during that year earned the team $3.2 million (R$7.2 million). The next year, Botafogo managed to sign the sixth highest sponsorship deal in Brazil the new sponsor Liquigás, a Petrobrás subsidiary paid the club $3.9 million (R$7.8 million) under the terms of the 1 year contract. In 2008 not only the agreement with Liquigás was renewed for another year but it also became more lucrative since the sponsorship was raised to around $5 million (R$10.2 million).
Botafogo generated in 2007 the 12th biggest revenue for all Brazilian soccer clubs, that year's revenues totalled $20.8 million (or R$41.1 million) but Botafogo had a net loss of $1.9 million (or R$3.7 million). Also at the end of 2007 Botafogo had total debts of $106.1 million (or R$209.7 million). Those numbers were obtained from a study conducted by Casual Auditores Independentes, the nature of Botafogo expenses is not known however.
Read more about this topic: Botafogo De Futebol E Regatas
Famous quotes related to financial situation:
“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
—Lionel Trilling (1905–1975)