Flamengo officially signed Law 2.772/2003, known as the "Labor Law," this Monday morning, officially settling more than 650 labor lawsuits filed with the Regional Labor Court of the State of Rio de Janeiro. Since 2009, Flamengo has paid off approximately R$130 million in debt. This is a significant achievement for the club, which continues its policy of austerity and debt restructuring.
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For Flamengo president Eduardo Bandeira de Mello, the signing shows that the club has managed to get through a difficult period in its history and the act was very useful in fulfilling and balancing obligations and debts.
"It was a complicated period in which Flamengo's revenues were being seized, and thanks to the act, the club had the strength to recover its finances and normalize the situation," said Bandeira de Mello.
Flamengo was one of the first institutions to participate in the labor debt settlement plan and also the pioneer in voluntarily withdrawing from the Act after paying off its debts. This allowed the club to better manage its finances and restructure itself.
For the club's legal director, Bernardo Accioly, the achievement is not just for the club, but for the joint work of Flamengo, the TRT and the Coordination of Support for Procedural Effectiveness (CAEP).
"Flamengo once again thanks the TRT presidency and the entire CAEP team on this long journey that began in 2003 and successfully concluded today. The policy of financial austerity and the legal department's responsibility in managing Flamengo's labor liabilities continues, now without the need for this important support mechanism provided by the TRT," said Accioly, who detailed the club's future outside the plan.
"For Flamengo, the Labor Act fulfilled its role, allowing the club to recover its financial flow without the risk of seizures and without compromising the payment of salaries, taxes, and creditors in general, with considerable success. Now Flamengo can stand on its own two feet, because it has already created a sufficiently responsible financial foundation. In the event of any future conviction or settlement, the funds will be released from Flamengo's own account, without the need for a new seizure," he concluded.